Turkish mills are reportedly continuing to book ex-Black Sea A3
scrap. Given the still unstable finished steel markets and weak demand, Turkish steel producers have headed to sources from which they can obtain
scrap supplies in small tonnages, and so they prefer ex-Black Sea A3
scrap.
In
Romania,
scrap collection prices are standing at $375-380/mt. While ex-
Romania A3
scrap offers to
Turkey are at about $415-420/mt CFR, the price idea of Turkish steel producers stands in the range of $410-415/mt CFR. In the meantime, Russian A3
scrap offers to
Turkey are similar to Romanian offers to
Turkey.
As for ex-Baltic
scrap, last weekend a Turkish mill concluded a transaction for an A3
scrap cargo, including 10 percent bonus grade
scrap, at $430/mt CFR.
The weakness in the finished steel markets coupled with the sudden depreciation of the euro against the US dollar today have raised expectations for a decline in
scrap prices.