Deal prices for short sea scrap slip again in Turkey

Thursday, 22 August 2019 16:51:58 (GMT+3)   |   Istanbul

Turkish steel producers have continued to conclude transactions for short sea scrap, while the general market sentiment has weakened slightly following the decline in price seen in the latest ex-EU scrap sale.

According to market sources, yesterday, August 22, two deals for HMS I/II 80:20 scrap were closed at $268/mt CFR. One was signed for 4,000 mt from Romania to Marmara, and the other one for 3,000 mt from Bosnia to Izmir. As a result, the prices for scrap from these sources have decreased by $2/mt compared to the transactions reported by SteelOrbis on August 20.

A fresh A3 scrap booking for 3,000 mt has been reported from Russia at $275/mt CFR Izmir versus $277-278/mt CFR targeted previously. The cargo will be shipped from Yeysk port. “Turkish steel mills are willing to buy short sea import scrap. However, suppliers’ stocks have decreased,” a market source told SteelOrbis. In addition, according to the sources, the recent increase in domestic scrap prices in Russia has caused sellers to be less willing to conclude deals for export these days.

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