Benelux scrap prices rise further, as predicted

Posted on 25 February 2020

Source: Kallanish

Prices in the Benelux scrap market have risen further.

Dock prices for HMS 1&2 80:20, which stood at €210-215/tonne delivered a week ago, currently stand at €220-225/t ($239-244) delivered. Even €230/t and €235/t delivered are heard to have been paid by some exporters which think prices will increase further throughout the week. Some other exporters, however, do not foresee more price hikes as the Turkish import market has stabilised in recent bookings.

In the latest EU-origin booking in Turkey, a 35,000-tonne cargo of HMS 75:25 and bonus grade was sold at $284.5/t cfr. Although some market participants have interpreted this as an increase in prices, there were no such higher numbers in other deep-sea cargoes from different origins.

A Benelux collector told Kallanish on Monday: “I sold HMS 80:20 at €235/t delivered this morning. This is not because the buyer was desperate, but because he was expecting to see higher prices this week.”

A Benelux exporter, however, finds this level unacceptable and says: “Prices have stabilised in Turkey. Turkish mills are resisting prices at over €280/t cfr for deep-sea scrap. I am at €220/t delivered dock price today and do not accept to pay higher unless prices further increase in Turkey.”

“In order for me to accept €230/t delivered and above today, I have to see Turkey paying $290/t cfr for the same material,” says another exporter.

Although Benelux scrap market players are uncertain about current price direction, new deals in Turkey this week are expected to determine the direction of the market.

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