An ex-US scraps booking for HMS I/II 80:20 last week was at $445/mt CFR. This week, scrap ex-US is expected to be offered at similar levels. Even Japanese producers have started to import US scrap cargoes.
In a booking made last week, a cargo consisting of 25,000 mt of HMS I/II 70:30, 5,000 mt of shredded and 3,000 mt of P&S scrap was booked at $422/mt CFR. Last week, a scrap cargo ex-Adriatic region of about 25-30,000 mt of HMS I/II 80:20 was sold at $420-422/mt CFR to Turkish producers.
A3 grade scrap ex-Black Sea has been dropping in price as well, after the last bookings made at $420/mt CFR levels. Today, Turkish buyers are not accepting A3 grade scrap offers at around $420/mt CFR, according to Steel Orbis data.