Short sea scrap suppliers have been rather inactive recently, refusing to directly follow the gradual decline of deep sea prices. However, this week some fresh sales have been reported.
According to the market sources, Turkish mills based in the Izmir and Marmara regions have booked HMS I/II 80:20 scrap from Bulgaria and from some ex-Adriatic sea suppliers within $215-217/mt CFR for a total of 15,000-20,000 mt. The volumes are for October shipments. As a result, the scrap prices from the mentioned destinations have decreased by $14-15/mt from the levels lastly reported by SteelOrbis on September 12. There are still some offers from Romania, Bulgaria and Adriatic with sellers mainly trying to sell for November shipments and are reportedly ready to sign contracts in line with the mentioned deals while normally they should be targeting higher offers. Currently the suppliers are focusing on scrap collection according to the previously closed contracts.