Short sea import scrap prices for Turkey slide

Friday, 09 August 2019 11:16:12 (GMT+3)   |   Istanbul

Import prices for short sea scrap in Turkey have declined this week, partly due to the drop in price seen in the recent ex-US scrap sale to Turkey.

Market sources report that Russian offers from Rostov-on-Don are currently standing at $285-290/mt CFR Turkish ports for A3 grade scrap, indicating a $5/mt drop over the past week. However, most suppliers are resisting levels below $290/mt CFR for now.

Scrap prices for HMS I/II 80:20 from Romania have weakened by $5/mt to $275-280/mt CFR Turkey, following the sale of 10,000 mt at $275/mt CFR Marmara, closed last Friday. Another cargo has reportedly been agreed on with a Marmara-based mill at $275/mt CFR for HMS I/II 80:20 and $285/mt CFR for bonus grade, for early September shipment. For now, suppliers from Romania are rejecting requests for additional discounts. “We cannot decrease short sea offers further until we see another drop in deep sea deals. Collection prices do not match the lower sales levels,” a market source told SteelOrbis. Meanwhile, offers from Bulgaria and Adriatic ports for HMS I/II 80:20 are reported within the same price range of $275-280/mt CFR Turkey.

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