Scrap offers to Turkey

Scrap offers to Turkey

Romanian origin scrap was sold to Turkey at $210/mt CFR levels previous week; however market sources report that sales at same levels were not accepted for the same material hence the latest offers were at $205/mt levels. Price offers for A3 grade Russian origin scrap may have withdrawn to $210-215/mt, according to reports. Some Turkish producers strengthen the expectation that softening in prices will continue at least in the first half of May by reason of delaying purchases in big amounts from their traditional suppliers and buying small cargoes from alternative sources such as Georgia and Bulgaria despite their scrap stocks which have dropped to critical levels.