Import
scrap booking activity in
Turkey has remained stagnant during the past week. No ex-deep sea
scrap deal has been concluded in
Turkey over the past week, while the most recent ex-
US HMS I/II 80:20
scrap transaction had been concluded at $380/mt CFR two weeks ago.
Scrap suppliers have been trying to keep their current prices stable and, in the meantime, Turkish
scrap buyers have considered the most recent transaction level to be on the high side. Having postponed their
scrap bookings with the expectation of a price softening, Turkish mills will likely conclude new
scrap bookings in the coming days. After this price struggle between
scrap suppliers and the Turkish mills, the Turkish producers are expected to obtain their desired levels and to be able to conclude ex-deep sea
scrap deals in the range of $370-375/mt CFR
Turkey.
On the other hand, short sea
scrap offers for
Turkey indicated a decline of $5-7/mt early last week. Russian A3
scrap offers for
Turkey stand at $360-363/mt CFR Marmara, while Romanian A3
scrap prices for the same destination are at $355-360/mt CFR Marmara. However, no new
scrap booking has been heard yet from short sea sources this week.