It is heard that today, September 7, a Turkish steel mill concluded an ex-Baltic scrap deal and also an ex-Black Sea transaction for a large tonnage of A3 grade scrap at $343-345/mt CFR. Market sources state that the reason the Turkish steel producer accepted a higher-than-expected price in the ex-Baltic deal is that it intends to blend the two scrap grades in question in its steel production.
Currently, A3 grade scrap offers from the Black Sea region to Turkey are observed to be in the range of $345-350/mt CFR.
Additionally, SteelOrbis has been informed that Turkish steelmakers’ price expectations for HMS I/II 80:20 scrap from Europe and the US are at $345-350/mt CFR and $350-353/mt CFR, respectively.