Turkish ferrous scrap import prices rose by $3/mt on Monday after the confirmation of a Friday booking from the Baltic region. An Izmir-based mill booked 20,000mt of HMS 1&2 (80:20) at $289.25/mt cfr and 5,000mt of bonus at $299.25/mt cfr from a Latvian exporter on Dec 6.
Buying activity was high in the Turkish market, supporting further price increase as supply remains tight. The daily Davis Index price for US-origin HMS 1&2 (80:20) also increased by $3/mt to $290/mt cfr Turkey on Dec 9.
Suppliers from the US and the Baltic region also increased offers to $295-300/mt for HMS 1&2 (80:20) with some negotiations already underway in the Turkish scrap market.
Turkish producers require significant tonnages of scrap for their January shipment and have increased their buying spree to close deals before most of the US, Baltic, and European suppliers leave the market in the second half of December for Christmas. Russian exporters are also likely to remain absent in the first half of January.