Black Sea scrap suppliers resist lowering their prices

Friday, 22 July 2005 15:59:00 (GMT+3)   |  
       

Black Sea scrap suppliers resist lowering their prices

Some Turkish steel producers claim that Black Sea scrap is not being offered below the $215/mt CFR level. Although Turkish buyers are pushing for $200-205/mt CFR, suppliers do not seem willing to conclude offers lower than $215/mt CFR. As the SteelOrbis' July 13, 2005 market analysis Scrap prices soften this week following the recent purchases points out, the approaching grain season is possibly starting to show its impact on the freight rates, keeping the scrap prices on CFR basis to Turkey as unchanged.

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