According to market sources, ex-Russia A3 quality scrap offers to Turkey have increased by $5/mt in the last two weeks to $373-375/mt CFR Marmara and to $375-378/mt CFR Nemrut. Meanwhile, the latest ex-Russia deals for A3 quality scrap concluded to Turkey were in the price range of $373-375/mt CFR Nemrut. As of this week, ex-Romania A3 quality scrap offers to Turkey are at $370/mt CFR Nemrut.
Market sources state that demand for ex-Black Sea scrap is lively in the Turkish market, while the price difference between deep sea and ex-Black Sea scrap has diminished considerably. Tightness in availability of ships has continued due to the ongoing grain season, while ex-Black Sea freight costs continue to rise. Additionally, ex-Black Sea scrap supply is expected to drop in the coming days amid the continuing tensions in Ukraine and strong demand in the Russian domestic market.