Black Sea scrap prices are also on the rise. In the latest bookings heard, A3 scrap ex-Black Sea has found a buyer at $325/mt CFR Nemrut. On the other hand, it is thought that sales in the range of $325-330/mt CFR Turkish ports will be heard this week.
Turkish scrap market indicates slight rise
The effect of high freight rates still dominates the Turkish scrap market. It is heard that freight rates have increased further since last week, with rates from the US East Coast to Turkey increasing to a level of $65/mt. It is reported that the latest booking for HMS I/II 70:30 scrap cargo ex-continental Europe has been concluded at $312.75/mt CFR Turkey. It is said in the market that scrap collection has slowed down due to the holiday period and that offer levels for deep sea scrap will increase slightly. Moreover, it is also said that HMS I/II 80:20 scrap will be offered at prices over $330/mt CFR for September shipments.
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