Uncertainty dominates Turkish scrap market

Turkish scrap market, which has been calm with very rare bookings for the last few weeks, is still calm this week. The fact that there are not any booking reports creates uncertainty about the actual market prices. While some part of the market expects prices to decrease, some think that there is no reason for prices to decline, claiming that the prices would at least keep their current levels even if they would not rise. Price levels are as follows: the latest booking for deep sea scrap ex-US and ex-EU was concluded last week at $288/mt CFR Nemrut for HMS I/II 80:20 and at $274.50/mt CFR Marmara for HMS I/II 60:40; however, this week's offer levels have not been heard yet. For A3 grade scrap ex-Black Sea, offer levels at $280-290/mt CFR Turkish ports are heard. Moreover, a few special sales for small tonnages at a price lower than this price range are heard to have been concluded. Offer level at $294-295/mt CFR Turkish ports for A3 scrap with Baltic loading, 30 percent of which is bonus grade, has not been accepted in the market. In the market, where no sharp declines or increases are expected, the bookings this week will show the actual prices.