London (Platts)--28Feb2013/914 am EST/1414 GMT
Port prices in Benelux terminals increased this week as local recyclers eyed gains in bimonthly settlements with local steelmakers and exporters tried to fill vessels for shipments already booked to Turkish steelmakers, market participants said Wednesday. Mills in Turkey had been holding off scrap purchases since Monday in handysize cargoes after seeing a weaker euro after Italian elections and believing that some oversupply would help weaken prices. But pricing indications in Belgium increased Wednesday to Eur270/mt ($353.70/mt) delivered Antwerp terminal for heavy melting scrap I/II (70/30 blend), while sellers from Rotterdam said prices were at Eur265/mt delivered. Compared with Eur260/mt delivered in previous days' trade, the above prices show difficulties in collecting the HMS blend required for bulk shipments. A recycler exporting in bulk said offers to Turkey for HMS I/II (70/30 blend) were $390/mt CFR Turkish ports, $7-8/mt above the latest sale, done Monday. Article continues below...Platts 9th Steel Markets Europe ConferenceMay 23-24, London, UKPlatts' flagship steel conference will provide a complete overview of developments in Europe's steel industry and its markets. Participants will address those issues of interest to Europe's steel producers, traders, distributors and end users, including supply / demand dynamics, price direction, raw material markets, regulatory considerations and credit availability.
Port prices in Benelux terminals increased this week as local recyclers eyed gains in bimonthly settlements with local steelmakers and exporters tried to fill vessels for shipments already booked to Turkish steelmakers, market participants said Wednesday. Mills in Turkey had been holding off scrap purchases since Monday in handysize cargoes after seeing a weaker euro after Italian elections and believing that some oversupply would help weaken prices. But pricing indications in Belgium increased Wednesday to Eur270/mt ($353.70/mt) delivered Antwerp terminal for heavy melting scrap I/II (70/30 blend), while sellers from Rotterdam said prices were at Eur265/mt delivered. Compared with Eur260/mt delivered in previous days' trade, the above prices show difficulties in collecting the HMS blend required for bulk shipments. A recycler exporting in bulk said offers to Turkey for HMS I/II (70/30 blend) were $390/mt CFR Turkish ports, $7-8/mt above the latest sale, done Monday.
Article continues below...
Platts' flagship steel conference will provide a complete overview of developments in Europe's steel industry and its markets. Participants will address those issues of interest to Europe's steel producers, traders, distributors and end users, including supply / demand dynamics, price direction, raw material markets, regulatory considerations and credit availability.
The increases reflect the change in market sentiment on the European continent. One of the first monthly settlements done for March contracts was settled stable on early-February contracts, but now the expectation among sellers is for an increase of around Eur10/mt in the German market. US domestic prices -- another indicator for the direction of the Turkish import market -- are also expected to rise in March. Platts' daily scrap assessments all rose as a result Wednesday. The Turkish import assessment strengthened to $404/mt CFR Turkish ports for HMS I/II (80/20 blend), the West European assessment rose to $375/mt FOB Rotterdam for the same HMS grade, while the Black Sea price for A3 increased to $373/mt FOB. Russian traders selling from Rostov were asking for $395/mt CFR Marmara ports; Turkish mills were focusing bids at $385/mt CFR.--Ciaran Roe, ciaran_roe@platts.com--Edited by Jason Lindquist, jason_lindquist@platts.com
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