Turkish mills’ poor demand pushes down scrap prices

Turkish steel producers have suspended their scrap bookings again, and so Turkish scrap demand has ground to a halt. Accordingly, scrap prices have declined, also as there are no shortages of scrap supply and as many scrap sellers are still active in the market.
 
Ex-Romania A3 scrap offers to the Turkish market are standing at $445-450/mt CFR in general, although it is also heard that a few suppliers have given lower offers. In the meantime, scrap collection prices in Romania are at $416-420/mt.
 
On the other hand, ex-Russia A3 scrap offers to Turkey are standing at the price range of $450-460/mt CFR. However, since the price idea of Turkish mills is lower than this price range, no confirmed transactions have been heard so far.