In the not-very-active Turkish scrap market, it has been observed that Turkish mills, having concluded various small and large tonnages of A3 grade scrap bookings ex-Black Sea, are staying away from purchases of deep sea scrap.
In the latest deep sea scrap bookings, HMSI/II 80:20 scrap found a buyer at $342/mt CFR, whereas shredded scrap was purchased at $346/mt CFR level. Although no booking has yet been concluded this week, it is predicted that deep sea scrap prices will maintain their levels.
With regard to Black Sea scrap, the conclusion of many bookings has been heard, both from Romania and Russia. A3 grade scrap ex-Black Sea has found buyers at $325/mt CFR in Marmara, at $327-330/mt CFR in Nemrut and at over $330/mt CFR in Iskenderun.
Although the Turkish mills, staying away from deep sea scrap, have been able to get along with scrap they purchase from the local market and the Black Sea region, we think that they will purchase deep sea scrap for June and July loadings.