Turkish scrap market trends sideways

While scrap demand in Turkey has not been so strong, Turkish steel mills have not totally drifted away from the market, with some ex-deep sea and ex-short sea scrap bookings heard. Market players are waiting for ex-Europe scrap offers to soften in line with the strengthening of the US dollar against the euro, while ex-US HMS I/II 80:20 scrap offers are ranging at $385-390/mt CFR. Last week, ex-US HMS I/II 80:20 scrap was offered at $385/mt CFR, while transactions were concluded at $381-382/mt CFR. The Turkish mills are not likely to show interest in ex-US scrap offers which are higher than last week's transaction levels.
 
On the other hand, ex-Russia A3 scrap offer to Turkish mills are at $380/mt CFR. In Romania, scrap collection prices are currently standing at $345/mt, while ex-Romania scrap offers to Turkey stand at $370-375/mt CFR. The price idea of Turkish steel mills for ex-Romania A3 scrap is below the level of $370/mt CFR.