As Turkey’s scrap import activity has restarted again, the short sea scrap market has also warmed up.
SteelOrbis has learned that two ex-Romania HMS I/II 80:20 scrap sales have been done to Turkey’s Marmara region at $269/mt and $270/mt CFR, respectively. The total tonnage is 9,000 mt. Prior to these deals, SteelOrbis’ price estimation for short sea HMS I/II 80:20 scrap was in the range of $270-272/mt CFR Turkey.
Meanwhile, Russian suppliers’ offers for A3 grade scrap are at around $285/mt CFR, though Turkish mills are reportedly asking for $280/mt CFR in bids. As scrap prices in the Russian domestic market are still high, suppliers are unwilling to cut quotations to Turkey.
Since Turkey has waited long before concluding deep sea scrap bookings, some market sources think that Turkish mills may focus on short sea scrap purchases in the coming period to compensate for the delay in their purchases. Today, price inquiries in the short sea segment have begun and livelier activity is expected for the coming week. Meanwhile, SteelOrbis has also learned that the collection prices of the short sea suppliers are still on the high side and they want to see more deep sea bookings done before accepting lower quotations.