Black Sea scrap prices remain on high side for Turkish buyers

SteelOrbis has learned from market sources that Russian and Ukrainian offers to Turkey for A3 grade scrap have remained stable over the past week at $230-235/mt CFR. Meanwhile, Romanian scrap suppliers state that it is difficult to decrease their prices to the levels of Russian and Ukrainian offers due to the high cost of their scrap inventories and so they are keeping their scrap quotations at higher levels. Although some Turkish buyers have been making inquiries for ex-Black Sea scrap, they consider the current prices levels to be on the high side and are making firm bids at $220-25/mt CFR. Even if buyers and sellers do not appear very inclined to conclude deals, it is heard that negotiations between Turkish steel producers and Black Sea scrap suppliers are continuing and new deals may be heard in the near term. Market players are curious to see the price levels in any new scrap deals.