Turkish steelmakers have continued to refrain from deep sea scrap purchases as they do not find themselves in a position to accept the current scrap price levels. Instead, new short sea scrap transactions have been closed, again at lower levels.
A Turkish Izmir region-based producer has purchased 5,000 mt of HMS I/II 90:10 from Russia at $265/mt CFR, which is $5/mt lower than the level fixed earlier this week. In addition, another Turkish buyer has signed a contract with an ex-Romania scrap seller at $257/mt CFR Marmara for HMS I/II 80:20, down $3/mt compared to the previous booking. “Short sea scrap prices continue to decrease as the general market sentiment is downward,” a market source told SteelOrbis.