Market sources indicate that Russian A3
scrap offers to
Turkey have declined by $5-7/mt over the past two weeks to the range of $360-362/mt CFR Marmara and to $362-363/mt CFR Nemrut. Meanwhile, this week's Romanian A3
scrap offers for
Turkey have settled at $360-362/mt CFR Nemrut. In addition, the latest deals from the Adriatic region (Serbia and Bosnia-Herzegovina) have been concluded in
Turkey at $360-362/mt CFR Nemrut.
Since Turkish steelmakers have so far only concluded a few
scrap transactions for October shipments, in the coming days new import
scrap bookings are expected to be heard, also from the Black Sea region. Meanwhile, declines in deep sea
scrap prices have exerted pressure on Black Sea
scrap suppliers' offers and so the offers in question may soften further in the coming period. However, due to the higher cost of
scrap collection in the Black Sea region and strong
scrap demand in the local market, the volume of materials reserved for the export markets from time to time shows signs of contracting. But, on the back of the ongoing appreciation of the US dollar against the Russian ruble, Russian
scrap suppliers may focus their attention on the export markets instead of on the domestic market. Meanwhile,
scrap prices in the local Russian market are varying at RUB 10,950-11,500/mt ($286-300/mt) delivered.
$1 = RUB 38.34