SteelOrbis has been informed by market sources that ex-Black Sea
scrap offers for
Turkey have continued their gradual downtrend. This week's A3
scrap offers to
Turkey from
Romania have declined by $2-3/mt over the past week to $350-352/mt CFR Marmara and to $352-354/mt CFR Nemrut. Meanwhile, Russian A3
scrap offers for
Turkey are now at $353/mt CFR Marmara and at $355/mt CFR Nemrut, softening by the same amount since last week.
In the meantime, the latest
scrap deals in
Turkey from the Adriatic region (Serbia and Bosnia-Herzegovina) have been concluded at $354-356/mt CFR Nemrut.
Demand for ex-Black Sea
scrap in
Turkey has remained weak for a long time now. Turkish buyers indicate that they have not been satisfied with the quality of Black Sea
scrap for a while now and so they have postponed conclusion of transactions from the region. Against the backdrop of the weaker demand in
Turkey, the gradual declines in
scrap prices will likely continue.