Expectations for a further drop in import scrap prices still prevail in the Turkish domestic market, while several scrap bookings have been concluded in the past week. Today, April 6, an ex-Romania A3 scrap deal has been heard in Turkey at $363/mt CFR, while Black Sea origin A3 scrap offers are ranging at $362-363/mt CFR for Turkey. In addition, transaction prices for ex-US scrap are expected to soften further after the latest HMS I/II 80:20 scrap deal in Turkey was concluded at $375/mt CFR.
Scrap supplies in the US have surged, and so the number of export offers has also increased. Market sources indicate that scrap suppliers in the US have continued to give offers to Turkey at $375-380/mt CFR, but these offers may indicate a further softening in the coming days as buyers keep putting downward pressures on offer levels.
