Turkish HMS 1/2 80:20 Scrap import prices plummet further to $211 a ton

Published: Sep 18, 2015 12:43

Save

Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) plummeted further by $16 a ton week-on-week to $211 a ton in the week ended September 11.

TURKEY September 17 2015 4:15 PM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) plummeted further by $16 a ton week-on-week to $211 a ton in the week ended September 11, as per the latest figures from the Steel Index.

According to TSI, daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 fell by $14 a ton from last Friday to end the week at $205 a ton CFR Iskenderun port.

Sellers succumbed to the fact that there was a lot of inventory in US, UK and Baltic yards, along with the realisation that scrap prices needed to become more competitive compared to billet.

Multiple cargoes were traded this week, with prices at $215-210 a ton early on Monday, but come Friday material was heard to have changed hands in and around $200 a ton.

Looking at both rebar and imported billet prices, participants feel further falls below $200 a ton for scrap would not come as a surprise.

scrap imports Turkish HMS 1/2 80:20 scrap import average prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 mins ago

Has Indonesia Learned Its Nickel Lesson? Its Bauxite Market Will Tell

Indonesia has done this before. A commodity export ban, a rush of downstream investment, processing capacity built faster than the upstream can honestly support, and a market that eventually corrects in the most painful way possible. The nickel sector wrote that playbook. The bauxite sector is now following it, page by page, with one additional complication that makes the stakes materially higher.

4 mins ago

37 mins ago

China's Secondary Aluminum Alloy Ingot Inventory Drops by 94 mt to 31,300 mt

[SMM Aluminum News Flash] Today, the inventory of secondary aluminum alloy ingots in China's major consumption areas decreased by 94 mt from the previous trading day to 31,300 mt.

37 mins ago

58 mins ago

[SMM Aluminum Flash News] Citi Downgrades Norsk Hydro to Neutral as Aluminum Rally Boosts Outlook

Citi Research downgraded Norsk Hydro to “neutral” from “buy” after the company’s shares rose about 25% since February, driven by stronger aluminum prices. Citi also raised its target price from NKr105 to NKr110. Aluminum prices have climbed around 20% this year, outperforming copper’s 12% gain. Citi said Middle East geopolitical disruptions have removed about 3 million tones of aluminum production capacity from the market, supporting prices. As a result, Citi raised Hydro’s 2026 EBITDA forecast to NKr37 billion and estimated that every 10% increase in aluminum prices could add around NKr7.3 billion to group EBITDA.

58 mins ago