Turkish mills have continued to restock with short sea scrap, partly as they have started to receive higher offers from deep sea sellers. According to market sources, small lots of HMS I/II 80:20 from Romania have been closed at $259-260/mt CFR, up $2-3/mt compared to the previous levels. The total estimated tonnage for the mentioned deals is 20,000-25,000 mt. In addition, an ex-Rostov supplier has closed a deal for 3,000-3,500 mt of A3 scrap to a Marmara region-based producer at $261/mt CFR, indicating a $4/mt increase. Market players also say some cargoes are available ex-Libya, with negotiations continuing.
Turkish mills are seeking to book scrap for January shipments, while most deep sea sellers are reluctant to go below $270/mt CFR in deals, sources say. In particular, some EU-based suppliers have offered HMS I/II 80:20 at this level, while the US is said to be voicing up to $275/mt CFR. Even though the import scrap situation seems to be positive for now, players mainly do not expect deals to be closed above $270/mt CFR, SteelOrbis understands.