Fresh ex-Rostov scrap deal concluded in Turkey

According to market sources, a Marmara region-based Turkish steel producer has purchased an A3 grade scrap cargo totaling 3,000 mt from a Russian supplier at $229/mt CFR, for shipment from Rostov-on-Don in November. This is considered to be the first deal from Russia to Turkey after several weeks of inactivity as the Russian sellers were out of the market due to the export quota issue. The quota procedure is gradually gaining clarity, but overall market players expect the scrap export volumes from Russia to be cut by at least 30 percent. “This situation has damaged both Russia and Turkey in terms of the scrap trade and will last for a while,” a source told SteelOrbis.