While no new deep sea
scrap transaction has been heard in
Turkey since the first week of May, the gap between deep sea and Black Sea
scrap offers has widened considerably.
US-based
scrap suppliers' HMS I/II 80:20
scrap offers to
Turkey are currently at $290/mt CFR, while European
scrap suppliers' offers for the same grade are now at $280/mt CFR. However, SteelOrbis has been informed that Turkish steel producers are unwilling to conclude ex-US deals for HMS I/II 80:20
scrap above $250/mt CFR. Given the large price difference in question, it is considered to be difficult for Turkish steelmakers to accept deep sea
scrap prices when they can purchase
scrap from Ukraine at $215/mt CFR or from Rostov at $220/mt CFR, especially if the current conditions in the finished steel market are taken into account.