Ex-Romania scrap offers to Turkey reach ex-US scrap price levels

In previous weeks, Turkish steel mills had focused their attention on deep-sea scrap bookings and so their ex-Black Sea scrap booking volumes remained at low levels.
 
Increases in deep-sea scrap prices have caused ex-Black Sea scrap suppliers to raise their own prices, with their scrap collection prices increasing to $415/mt this week. While ex-Romania A3 scrap offers to Turkey have reached $450/mt CFR, SteelOrbis has learned from market sources that Turkish mills think that these A3 scrap offer prices are too high, considering that ex-US HMS I/II 80:20 scrap prices are standing at similar levels. In the meantime, the latest ex-Romania and ex-Russia A3 scrap transactions heard in Turkey have been concluded $440-445/mt CFR.