Turkish mills and Black Sea scrap suppliers in wait-and-see mode

Friday, 22 August 2014 16:58:22 (GMT+3)   |   Istanbul
       

According to market sources, Turkish steelmakers and scrap suppliers in the Black Sea region who give offers to Turkey have preferred to wait and watch the trends of the global scrap and finished steel markets. Thus, not many ex-Black Sea scrap bookings have been concluded in the Turkish import scrap market and only a few offers are available this week from the Black Sea region. Accordingly, Russian A3 scrap offers to Turkey are at $375-378/mt CFR Marmara and at $377-380/mt CFR Nemrut, while Romanian A3 scrap offers for the same destination can be found at $374-378/mt CFR Marmara. These offer prices have indicated an increase of $2-3/mt over the past two weeks. In addition, sources report that the latest ex-Romania scrap deals have been concluded at $377-378/mt CFR Marmara.
 
Tightness in availability of ships in the Black Sea region has continued due to the ongoing grain season, causing some shipment delays. This situation has also increased freight costs.

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