Market sources tell SteelOrbis that Turkish steelmakers had been delaying their scrap purchases from Black Sea for a while as deep sea scrap offer prices continued to decline, with deep sea HMS I/II 80:20 scrap offers having decreased by $20/mt over the past two weeks to attractive levels of $340-350/mt CFR In addition, higher freight costs had prevented significant downticks in Black Sea offer prices, pushing Turkish buyers to focus on deep sea scrap purchases.
However, last weekend A3 scrap deals in Turkey started to be heard from Romania and Russia as of the previous weekend. Accordingly, ex-Romania A3 scrap bookings have been concluded in the Marmara and Aegean regions at the price levels of $340/mt CFR and $342/mt CFR respectively. Meanwhile, with the decreases in the volume of ex-US HMS I/II 80:20 scrap offers for Turkey, scrap suppliers in the Black Sea region have started to test the market this week with higher prices.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.