No deals have been concluded this week with Turkish consumers. Importers are bidding the material from Rostov-on-
Don at $305-307/t CFR Turkey. Suppliers, however, taking into account the latest sales from Canada, believe $315-
317/t CFR Turkey to be a fair price. “However, we’re not ready to sign contracts even on these conditions, because
our profitability threshold is somewhere around $325/t CFR. Moreover, our current bidding prices do not ensure
normal inflow of the material,” one of exporters told Metal Expert.
A3 scrap from Baltic ports is priced at $325-327/t CFR Turkey,
down by $5-7/t from the contract signed last week. Nominal prices
for Ukrainian material are $303/t CFR against $310/t CFR the week
before.
In the Far East, importers from South Korea have considerably
cut volumes of purchases and bidding prices, citing negative trends
in finished products segment and high stocks. Suppliers had to
sell their product at least to get the needed cash. As shipment
batches had been collected time before, their further storage would
mean increase in costs. As a result, a 10,000 t shipment of A3
scrap was sold to South Korea at $295/t CFR,
down by $35/t from nominal price of last week.
Besides, some 50,000 t of A3 was sold to Taiwan
at $310-315/t CFR.
According to Metal Expert estimates, export prices
for CIS scrap will keep on dropping under pressure
of negative situation in finished steel market
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