Turkish mills are active in short sea scrap bookings, but are mainly resisting price increases. According to market sources, an Izmir region-based mill has purchased 4,000 mt of HMS I/II 80:20 from Serbia at $291/mt CFR. In addition, 5,000 mt of the same scrap grade have been sold to the Marmara region of Turkey from Romania at $290/mt CFR. While the prices for ex-Romania scrap seem to have stabilized for now, market sources report that Turkish mills are showing strong demand for scrap of this origin as offers from deep sea scrap sellers have been high. At the same time, the scrap allocation from Romania is said to be limited amid some collection issues due to seasonal factors.
Short sea scrap sellers from Russia have returned to the market after the holidays. Recently, A3 grade scrap from Russia has been sold to Turkey at $295-296/mt CFR, SteelOrbis has learned.
The ex-Israel scrap price increased by $1-2/mt in the latest deals to Turkey closed at the end of last week. According to sources, an Iskenderun region-based steel producer purchased a HMS I/II 75:25 scrap lot at $278/mt CFR. The cargo will be shipped in January. In addition, 1,500 mt of the same grade but of a slightly higher quality was closed again to Iskenderun at $280/mt CFR, SteelOrbis has learned.
Since deep sea scrap offers to Turkey are still at high levels, Turkish demand for short sea scrap has increased recently. If deep sea scrap purchases start to be concluded at higher levels, short sea scrap suppliers may also increase their offer levels.