Scrap prices show stability in Turkish market

Turkish mills are continuing to conclude scrap bookings, though not very intensively. The Turkish steel producers had returned to the scrap market following a long period of inactivity as prices reached the bottom.
 
Ex-US HMS I/II 80:20 scrap prices for Turkey, which were at $450/mt CFR in late April, have regressed to $380/mt CFR due to low demand and have stabilized at this level. In Turkish mills' latest ex-US scrap transactions, the price of HMS I/II 80:20 was at $383/mt CFR, while the price of shredded scrap was at $388/mt CFR.
 
On the other hand, ex-Black Sea A3 scrap offer prices vary depending on their origin. While ex-Russia A3 scrap prices stand at $380-385/mt CFR, these offers have not gained acceptance from Turkish mills since they are very close to ex-US HMS I/II 80:20 prices. In the meantime, ex-Romania A3 scrap offers to Turkey are at $367-375/mt CFR.