In the global steel markets, scrap prices continue to follow a downward trend, while Turkish mills' scrap purchases are still very limited. SteelOrbis has learned that, although Turkish mills are not staying away from the scrap markets nowadays, their price idea remains far below scrap suppliers' offers.
In Romania, scrap collection prices have declined to $370/mt. Romanian scrap suppliers, who state that scrap supply is currently not so strong, are offering A3 scrap to Turkish mills at $410/mt CFR Marmara Sea ports.
On the other hand, ex-Russia A3 scrap offers to Turkey are almost at the same levels as ex-Romania offers. However, since the price idea of Turkish mills for A3 scrap stands at $405/mt CFR Marmara Sea ports, negotiations are taking some time. After the latest ex-US scrap transaction of a Turkish mill heard in the market as reported by SteelOrbis, the downward pressure on ex-Black Sea scrap prices has increased.