In the Turkish import
scrap market, where very few transactions have been heard lately, although
scrap demand is increasing day by day Turkish mills are still delaying their
scrap bookings, as the expected revival in the finished steel market has failed to materialize. Considering that May
scrap orders are still below the normal required volumes, while
scrap orders also need to be concluded for June, it thought that Turkish mills need to order about 35 more ex-deep sea
scrap cargos.
Despite the tepid demand, no softening has been observed in ex-
US scrap prices. After
the latest scrap booking reported by SteelOrbis, it is seen that other
US scrap suppliers are unable to offer such price levels, while the mainstream price level for ex-
US HMS I/II 80:20 is still at about $450-455/mt CFR. SteelOrbis has learned from market sources that there is no supply shortage for
scrap from
Europe or the
US and that there are
scrap offers from many suppliers available in the market.
Suppliers of ex-Black Sea
scrap have become more aggressive recently and
scrap offers from this region have indicated a softening.
Scrap collection prices in
Romania are currently standing at $395-400/mt, while ex-
Romania A3
scrap offers to
Turkey are at about $430-435/mt CFR and ex-
Russia A3 offers are at $435-440/mt CFR
Turkey. However, actual transactions may be below these offer levels.