Turkish steel mills have started to accelerate their ex-deep sea scrap purchases since last week.
Accordingly, in the latest bookings the price of ex-Europe HMS I/II 80:20 was at $378/mt CFR Turkey, while the price of ex-US HMS I/II 80:20 was at $388/mt CFR Turkey, as can also be viewed in SteelOrbis Scrap and Raw Material Prices. Particularly, Turkish steel mills which have witnessed increased activity in their steel export markets have accelerated their scrap booking activity.
Along with their ex-deep sea scrap bookings, Turkish mills have also focused on the purchase of ex-Black Sea scrap before scrap collection activities and scrap shipments become more difficult in line with harsher winter conditions. Accordingly, in Turkish mills' ex-Black Sea scrap transactions, the ex-Romania A3 scrap price is standing at $376/mt CFR Marmara Sea ports or $378/mt CFR Nemrut port, while the price of ex-Russia A3 scrap price is $2-3/mt higher than Romanian scrap. In the meantime, scrap collection prices in Romania are at $340-345/mt.
After increasing their scrap purchasing activity last week in line with livelier finished steel markets, Turkish mills are expected to continue their scrap purchases if the activity in the finished steel markets does not subside.