Turkish HMS 1/2 80:20 scrap import prices decline to $381 a ton

TURKEY April 25 2014 10:35 AM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) declined by $4 a ton week-on-week to $381 a ton in the week ended April 18th this year, as per the latest figures released by the The Steel Index.

The re-entry of US recyclers to the Turkish seaborne market last week brought about a softening in pricing as supply became more readily available.

Consequently, TSI’s daily benchmark index for deepsea Turkish imports of HMS #1&2 80:20 finished last Thursday at $378 a ton, representing a fall of $5 a ton since the end of the previous week.

Only a few deep-sea cargoes were booked last week, with steel mills seemingly intent on playing a waiting game until recyclers lower their offers more in line with their expectations in the face of more abundant supply and stalling rebar prices.