Specifically, the significant freight price rise is seen for ex-CIS materials to Turkey, although a number of sources report that freight rates to and from Asia have also increased a lot. According to market information, the freight rates specifically for billet from the Black Sea/Azov Sea area to Turkey’s Bartin and Marmara regions have increased from $17-19/mt two weeks ago to $27-28/mt and $28-32/mt, respectively. The limited vessel availability, especially for small and medium lots to be shipped, is said to be the key reason for higher freight rates, specifically in terms of Turkish business. Sure it is a kind of a bubble at the moment, but we have what we have and shipments need to move,” a trader told SteelOrbis. Moreover, the grain season has reportedly started to affect the freight market and this influence is only going to strengthen in the coming months.

Source: The North Africa Journal June 11, 2021 14:37 UTC