The Platts TSI assessment of Turkish imports of premium heavy melting scrap I/IIv (80:20) was $308/mt CFR Monday, down $2/mt from Friday's assessment.
Two trades were reported in the market on Monday, both confirmed to have been done early to mid-week last week. The first was a Marmara-based EAF buying a Benelux-origin cargo last Tuesday consisting of 22,000 mt HMS 75:25, 8,000 mt shredded, 2,500 mt busheling and a 6,000 mt mix of plate and structural (P&S) and HMS 1. The cargo was priced at an average of $309/mt.
On Wednesday last week another Marmara-based mill bought a Baltic cargo of 14,000 mt HMS 80:20 at $306/mt, 24,000 mt shredded at $311/mt and 3,000 mt bonus and 2,500 mt busheling both priced at $316/mt.
The general consensus among market participants was that the $306/mt trade was too low and not indicative of current market levels, with one Turkish agent saying "Most sellers are still aiming over $310/mt." Another trader said prices, "Seem around $307-$308/mt," while a trading house put current value at $308-$309/mt.
