According to market sources, Russian A3 grade scrap offers to Turkey have increased by $5/mt over the past week to $312-315/mt CFR, while Romanian and Ukrainian A3 grade scrap offers to the same destination have also increased by $5/mt to the range of $310-315/mt CFR. The latest deal from Russia to Turkey for A3 grade scrap was concluded at $312/mt Nemrut, while an ex-Ukraine deal to Turkey has been concluded for HMS I/II 90:10 at $322/mt Marmara.
The further increases recorded in deep sea scrap prices have caused Black Sea scrap suppliers to continue revising their prices upwards. Market sources state that, with the Russian ruble falling sharply in value against the US dollar, Russian scrap suppliers exporting via the Black Sea were expected to revise their scrap offers downwards as they would still be able to preserve their profit margins. However, the Russian scrap suppliers have been unable to reflect the weakening of the ruble in their prices due to the colder winter weather and the disruption of shipments amid decreasing water levels of the rivers used for transportation.