The continuing scrap demand of Turkish mills, who have restarted their bookings after suspending their purchases for a short time last week, is causing scrap prices to climb further. The price increase of about $7/mt observed in the latest ex-US scrap transaction to Turkey, has also resulted in higher offers for ex-Black Sea scrap.
SteelOrbis has learned from market sources that currently Romanian and Russian A3 scrap offers to Turkey are standing at $455-460/mt CFR and the latest A3 scrap booking in Turkey was concluded at $453/mt CFR Marmara Sea ports. In addition, an ex-Baltic single mixed cargo transaction to Turkey has been concluded at an average of $459.5/mt CFR, consisting of HMS I/II 60:40 (40 percent of the cargo), A3 scrap, bonus grade scrap and cast iron scrap.
Scrap demand continues to be observed from the Turkish mills ahead of the New Year.