Turkey HMS 1/2 80:20 scrap import prices edge up to $376 a ton

TURKEY May 19 2014 11:01 AM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) edged up by $1 a ton week-on-week to $376 a ton in the week ended May 16th this year, as per the latest figures released by the The Steel Index.

The Turkish scrap market remained stable this week, with both buyers and sellers relatively content with the level of scrap pricing.

Consequently TSIs daily benchmark index for deep-sea Turkish imports of HMS # 1 & 2 80:20 moved down only 0.3% week-on-week to finish at $375 a ton.

Prices held steady as US sellers returned to the export market, whilst recyclers reported that increased scrap flows were being kept in check by relatively healthy scrap demand from mills.

However, with doubts surrounding the strength of Turkish rebar sales going forward, mills are expected to look to apply downward pressure on scrap pricing.