Turkish steel mills have continued to conclude new import scrap deals in the current week, while price have increased in the new transactions.
In the most recent ex-US scrap deals, HMS I/II 80:20 scrap prices have increased to $310/mt CFR, while the prices in these deals ranged at $298-310/mt CFR. It is observed that ex-Baltic bookings in Turkey were concluded at $306-307/mt CFR. Additionally, ex-Europe scrap transactions have been heard in Turkey at $302.5-306/mt CFR for the same grade.
SteelOrbis has been informed that short sea scrap quotations are more attractive compared to deep sea scrap prices. While HMS I/II 80:20 scrap offers from Romania and Bulgaria to Turkey are at around $290/mt CFR, Russian HMS I/II 80:20 scrap offers to Turkey are in the range of $295-300/mt CFR.
Meanwhile, market sources state that scrap offers from the Adriatic to Turkey may be above $290/mt CFR as domestic demand in the Adriatic region is strong and scrap collecting activities have slowed down due to seasonal conditions.