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.