With deep sea
scrap prices still moving on an upward trend,
scrap suppliers in the Black Sea region have continued to raise their offer prices for the export markets. According to market sources, ex-Black Sea
scrap offers to
Turkey for A3 grade
scrap have increased by $5/mt on the lower end compared to last week to the range of $275-282/mt CFR. It is heard that a Turkish producer has concluded two deals from Slovenia and
Romania for A3 grade
scrap at $277/mt CFR Nemrut, while another producer in
Turkey's Marmara region has booked Russian
scrap at $272 CFR. Market sources report that Turkish producers which have not concluded deep sea deals yet are interested in ex-Black Sea offers though some of them are cautious. On the other hand, Russian steel producers'
scrap purchase prices in their domestic market are currently in the range of RUB 10,900-11,000/mt ($218-220/mt) delivered. Market sources state that there is a shortage of local
scrap flow to Russian steelmakers and hence local
scrap prices in
Russia may be revised upwards in the short term.
$1 = RUB 50