The same situation applies for the Black Sea region. In the bookings concluded towards the end of last week, A3 grade scrap ex-Black Sea was purchased by Turkish mills in the price range of $350-355 mt CIF.
Although scrap inventories in Europe are reported to be high, the fact that the €/$ exchange rate is quite strong, added to the rising freight rates, has not allowed any softening in the prices of scrap ex-Europe.
The price level the mills will accept to pay for scrap varies according to their stock levels. Meanwhile, the Turkish mills which are due to conclude scrap bookings this week are expected to pay around $350-355/mt CIF for HMS I/II 80:20 scrap ex-deep sea, which may also vary according to the discharge rate.