While Turkish scrap market players wait for further developments in the deep sea segment, Turkish mills’ short sea business activity has also been weak. Meanwhile, bids from Turkey for short sea scrap have decreased.
Early this week, a buyer from Turkey’s Marmara region booked 5,000 mt of HMS I/II 80:20 scrap from Romania at $288/mt CFR, $1/mt lower than the previous transaction price. However, the next deal for scrap of the same origin, again for 5,000 mt, was closed at $280/mt CFR, showing a $8/mt decline after the drop of the prices for ex-US scrap. The latest bids from Turkish mills for ex-Romania scrap have been reported at $275-280/mt CFR, and even lower levels may be seen shortly, SteelOrbis understands.
Bids from Turkey for ex-Israel HMS I/II 75:25 scrap have also decreased. While earlier a deal for 2,400 mt was fixed at $273/mt CFR, indicating a $5/mt drop, currently the bids from Turkish mills are at $255/mt CFR, sources say. Offers from Israel are expected to decrease to $265-270/mt CFR, SteelOrbis understands.