Scrap export prices from Black Sea region continue to edge up

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