According to market sources, Black Sea-origin scrap offers to Turkey have continued their gradual softening. This week's A3 scrap offers from Romania to Turkey have declined by $2-3/mt week on week to $352-355/mt CFR Marmara and to $355-356/mt CFR Nemrut. Meanwhile, Russian A3 scrap offers to Turkey have also moved down by $2-3/mt CFR since last week and are currently standing at $355/mt CFR Marmara.
Having accelerated their deep sea scrap purchases over the past three weeks, Turkish steelmakers have shown little interest in Black Sea scrap offers. Thus, in the coming days scrap suppliers in the Black Sea region may cut their prices further for Turkish buyers in order to boost sales.