There was no letup in steel scrap prices before the holiday season kicked off, with a US supplier heard Friday getting $470/mt CFR Turkey for HMS I/II (80/20 blend) material.
The trade included shredded scrap at $475/mt CFR Turkey and bonus at $480/mt CFR, a trader said. Shipment sizes on the single cargo transaction were unable to be immediately confirmed. The prices are $10/mt higher than US trades into Turkey last reported by the market earlier this week. A UK-based scrap supplier was rumored to have achieved a similar price on a CFR Turkey basis but this was not confirmed by traders.
Platts lifted its assessment for HMS I/II (80/20 blend) $3 to $468/mt CFR Turkey. The grade's FOB Rotterdam assessment rose $3 to $438/mt.
Earlier this week, a UK cargo of HMS I/II (80/20 blend) material was heard traded at $458/mt on Wednesday, with a portion of HMS I/II (70/30 blend) getting paid at $449/mt.
As worsening winter conditions in northern Europe and the US further threaten scrap supplies, prices for material delivered to yards for processing are said to be rising. The A3 scrap market in Russia and Ukraine would likely see complimentary price direction, despite the usual lack of trades over the winter period.
The Platts A3 scrap FOB Black Sea assessment saw a $3/mt rise to $457/mt.
The scrap market has seen the strongest pricing this month compared with semi and finished long products, with the benchmark Turkey CFR assessment gaining 14% from December 3. Billet prices in the Black Sea have risen 6.1% over the same period to $605/mt FOB as of Friday, while Platts regional rebar assessment has gained 8.2% over December to $660/mt FOB Turkey. --Hector Forster, hector_forster@platts.com
Similar stories appear in Steel Markets Daily. See more information athttp://www.platts.com/Products/steelmarketsdaily
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