Turkish HMS 1/2 80:20 scrap import prices rise by $4 a ton

TURKEY March 24 2014 9:45 AM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) rose by 1.1% or $4 a ton week-on-week to $371 a ton in the week ended March 21st this year, as per the latest figures released by the The Steel Index.

According to TSI, daily benchmark index for deep-sea Turkish imports of HMS # 1 & 2 80:20 gained last week as suppliers successfully pushed prices higher against a backdrop of tightening scrap supply.

A number of cargoes were secured from Europe, the UK and the US, with prices gradually ticking up as the week went by.

Mills were able to successfully raise domestic rebar prices to account for these higher raw material costs, but found the export market to be much less sympathetic with very few sales recorded last week.