In line with the rising trend of deep sea scrap quotations, short sea scrap prices for Turkey are also moving up but at a slower pace.
SteelOrbis has been informed that a total of approximately 10,000 mt of short sea HMS I/II 80:20 scrap has been sold from Bosnia and Romania to Turkey’s Marmara region in the range of $254-255/mt CFR. At the beginning of the current week, SteelOrbis reported an ex-Romania HMS I/II 80:20 scrap deal to the Marmara region at $254/mt CFR.
Additionally, ex-Russia A3 grade scrap prices are at $262/mt CFR Turkey and deals have been concluded at this level. At the beginning of this week, ex-Russia A3 grade bookings were closed in the range of $259-260/mt CFR Turkey. Some market sources believe Russian offers for HMS I/II 90:10 scrap are currently at around $265/mt CFR Turkey.
Meanwhile, a Mediterranean scrap supplier has concluded a deal to the Iskenderun region for HMS I/II 75:25 scrap at $245/mt CIF. Market sources report that most offers for this grade are now at around $245-250/mt CIF Iskenderun, though there are also slightly lower prices voiced in the market. Last week, the workable levels were believed to be at $240/mt CIF Iskenderun.
Although market sources report that there is no supply shortage on the short sea side, except for Russia where the impact of Covid-19 has been felt more strongly, while delivery terms are now longer for Black Sea scrap. On the Mediterranean side, supply volumes have recovered as compared to last week.
