According to market sources, Russian and Romanian A3 grade
scrap offers to
Turkey have this week been at $250-255/mt CFR. Meanwhile, the latest Romanian A3 grade
scrap deals in
Turkey have been concluded at $255/mt CFR Nemrut, while Russian A3 grade
scrap deals have been transacted at $250/mt CFR Nemrut. Additionally, a Turkish steel producer has concluded an ex-Adriatic deal for A3 grade
scrap at $249-250/mt CFR Nemrut.
Demand for ex-Black Sea
scrap from Turkish steel producers has been at decent levels so far March, resulting in plentiful deals in recent days. However, after recent deep sea and ex-Black Sea transactions, some Turkish producers have started to show less interest in concluding new deals, slowing their
scrap purchases and focusing on their finished steel sales, while maintaining a wait-and-see stance in the
scrap market. Moreover, some Turkish producers consider ex-Black Sea
scrap offers to be on the high side, stating that they now intend to purchase below $250/mt CFR and that they will wait until this level is achieved.
On the other hand, prices in the local Russian
scrap market are currently in the range of RUB 11,000-12,500/mt ($181-205/mt) delivered, while
scrap supply in
Russia is reportedly on the low side.
$1 = RUB 60.85