This week, the scrap metal trade has been characterised by various deals and price updates across the globe. Negotiations on the Europe-Turkiye deal reveal the dynamics in the price-setting process between buyers and suppliers. Agreements with the US, on the other hand, shed light on the general trends in the sector in terms of prices per tonne and deal durations. This week's scrap metal trade updates point to key deals that reflect the activity in global markets and price dynamics in the sector, while the various deals between Europe, Turkiye, Romania, the US and other regions reflect the interaction of the global network in the scrap metal trade.
Negotiations on the Europe-Turkiye deal illustrate the price-setting process between buyer and supplier, while deals with the US reflect general trends in the sector in terms of prices per tonne and deal durations.
Here are the scrap contacts of the week:
Europe - Aegean Connection:
The deal between European scrap dealers and Turkish producers is expected to fetch a price of $420 per tonne. The bargaining in the Europe-Turkey deal reveals the differences of opinion between suppliers and producers on the price. Although Turkish producers intend to purchase at $410 per tonne, the range set by the supplier was announced as $415-420 per tonne.
Romania - Turkiye by Sea:
The deal between an Eastern European scrap seller and Turkish buyers highlights the role of logistics preferences in metal trade. The scrap transport at a price of 389 USD per tonne shows that 80% share of maritime transport is preferred due to the cost effectiveness and efficient transport capacity of this method.
US - Black Sea Deals:
The agreement between the two parties for $415 per tonne and $430 for PS (Presovana Sheet) covers the entire month of February and was completed on 2 January. The agreements covering February reflect the stability and demand in the sector.
US - Mediterranean Deals:
In another US - Turkiye deal, a scrap deal between two companies with a price of $419 per tonne was completed recently.
Europe - Mediterranean Deals:
In the agreement with Belgium, an average price of $424 per tonne was determined for 25,000 tonnes of scrap. The agreement includes 80% metal scrap and 20% Shred&Bonus. Different combinations of metal scrap and Shred&Bonus rates provide flexibility to meet customer demands.
Europe - Mediterranean Deals:
A deal between the Netherlands and Turkiye, with prices in the range of $415-416 per tonne, includes a February shipment.
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