The import market for short sea scrap remains active in Turkey. A Marmara region-based mill booked 5,000 mt of HMS I/II 80:20 scrap at $253/mt CFR from Romania, up $2/mt from the previous transaction. Meanwhile, scrap collection prices in Romania have increased by $5/mt, but scrap flow remains limited. In addition, a number of small sales were closed HMS I/II 80:20 ex-Adriatic at $253/mt CFR. Market sources estimate that at most 15,000-20,000 mt of scrap is left in the Adriatic region for December shipments, and so ex-Adriatic scrap allocation remains limited.
Ex-Rostov scrap suppliers remain inactive due to the export quotas. The indicative prices for A3 are estimated at $257-258/mt CFR. Israeli HMS I/II 75:25 is available at $240/mt CFR, unchanged from last week. According to the sources, an HMS I/II 90:10 cargo was sold from Libya at $240/mt CFR in addition to some other lots sold last week. Market sources report that the price level recorded in the deal in question is lower than the current offer range. However, Turkish mills are cautious regarding the quality as the scrap may be collected from zones of military conflict.
Market players underline that Turkey’s demand for short sea scrap has remained high and so the price gap with deep sea prices has been narrowing down. Mills are concerned there might be some delays in deep sea deliveries during the winter season. Accordingly, they are in the market to collect whatever they can from nearby supplying regions.