After the sharp rebound recorded in deep sea scrap prices in Turkey, reflecting the tight supply situation in the market amid limited collection activities in the major supplying regions, short sea scrap quotations to Turkey have also increased in a new deal disclosed to the market today, April 8.
A Black sea-based Turkish mill concluded an ex-Rostov deal yesterday, April 7, for 3,000 mt of A3 grade scrap at $248/mt CFR, to be shipped in the current month. SteelOrbis has learned that this level is almost equal to current ex-Bulgaria HMS I/II 80:20 scrap offers, while some market sources state that current offers from the Adriatic region and Romania are in the range of $245-250/mt CFR for the same grade, with ex-Russia offers for HMS I/II 90:10 being at $250-255/mt CFR.
As a result, SteelOrbis’ estimated price for short sea scrap has increased from the previous $235/mt CFR to $245-250/mt CFR, indicating a $10-15/mt rise.
Some market sources state that there is still a lack of cargoes due to the problems experienced on the collection side, and that the uncertainties surrounding scrap flow have continued. SteelOrbis understands that some mills are still seeking deep sea scrap, and so it cannot be said that Turkish mills are fully focused on short sea cargoes.