Black Sea scrap suppliers reduce their prices

SteelOrbis has learned from market sources that an ex-Russia offers for HMS I/II 80:20 scrap to Turkey has been concluded at $210/mt CFR Marmara this week, while Russian offers for the same product to Turkey's Aegean region are at $213/mt CFR, though buyers are willing to reduce their prices to $205/mt CFR as a result of negotiations. Accordingly, Ukrainian and Romanian offers to Turkey for HMS I/II 80:20 scrap are at $205/mt CFR Marmara region, while dealers in these countries are willing to reduce their prices to $200/mt CFR in negotiations.
 
In recent weeks, the most important problem was the disruptions experienced in scrap shipments on account of the low water levels of the Don River. Market sources report that water levels have risen a little, allowing Black Sea scrap suppliers to reduce their prices. However, declines seen in deep sea scrap prices have continued this week, strengthening the expectations of a further decline in prices. Therefore, buyers are still considering ex-Black Sea scrap prices to be on the high side. Meanwhile, no new ex-Black Sea scrap deal has been heard in Turkey this week.