The Turkish scrap import market was stable on resilient indications Wednesday, despite a couple of sales at marginally lower prices.
The S&P Global Platts daily assessment of Turkish deepsea premium heavy melting scrap I/II (80:20) imports was unmoved at $215/mt CFR.
A UK merchant sold 25,000 mt of heavy melting scrap I/II (80:20) at $209.50/mt CFR to an electric arc furnace-based mill in Izmir, for August shipment.
This trade normalized to around $214.50/mt CFR against Platts methodology.
A European merchant also sold 30,000 mt of 80:20 out of Holland at $211/mt CFR, to a different Izmir-based EAF.
However, sources questioned the repeatability of this deal.
A source close to the supplier said this was a "historical sale, and thus also historical in terms of value."
Other sources said the merchant may not be shipping as promptly as usual, so the price could be lower than market value.
After the 16:30 timestamp, another trade came to light: a Turkish trader sold out of Rotterdam 15,000 mt of 80:20, 5,000 mt of shred and 10,000 mt of bonus and busheling at $210.50/215.50/220.50/mt CFR, to an Iskenderun-based EAF steelmaker.
One European merchant said mills were targeting beneath $210/mt CFR but not having any success, and that the market was trending towards $215/mt CFR for premium material.
An Iskenderun-based steelmaker said $215/mt CFR would be repeatable Wednesday, while one trader selling premium Baltic material maintained $215-218/mt CFR would be repeatable.
A stateside trader said the market was around $214/mt CFR for premium US 80:20, though some merchants were banking on the market rising over $230/mt CFR.
Meanwhile, two Turkey-based agents said the market would trade around $210/mt CFR for premium material in light of the latest sales.
