Turkish mills confine themselves to scrap bookings in smaller tonnages

After a quiet start to the current week, Turkish scrap buyers currently prefer to purchase short sea scrap in smaller tonnages, instead of buying deep sea scrap.
 
Scrap collection prices in Romania are standing at $390-395/mt. Ex-Romania A3 scrap offers to Turkish mills are standing at $430/mt CFR Marmara Sea ports, while actual transaction prices are at $427-428/mt CFR. In the meantime, Turkish mills are buying ex-Adriatic Sea HMS I/II 80:20 cargos in smaller tonnages at $427/mt CFR.
 
Currently, European scrap suppliers are facing serious difficulties as the US dollar has exceed 1.33 against the euro. On the other hand, failing to see the desired activity levels in the finished steel markets, Turkish steel mills are expected by some market players to delay their deep sea scrap bookings for a further while and this situation is exerting pressure on scrap prices, causing increased resistance this week against last week's ex-US HMS I/II 80:20 price of $440/mt CFR.