TURKEY June 16 2014 8:55 AM ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) declined by 0.8% week-on-week at $370 a ton in the week ended June 13th this year, as per the latest figures released by the The Steel Index.
Volatility was again absent from the ferrous scrap import markets in Turkey, with TSI's daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 finishing the week at $370 a ton CFR port, a $3 a ton fall week-on-week.
A handful of cargoes were booked from the US, Europe and Baltic, with each showing relatively stable pricing, before a cargo was heard secured at below $370 a ton for HMS #1&2 80:20 at the end of the week.
Traders forecast this period of stability to run throughout Ramadan, with little impact expected on production levels.
However, bearish sentiment is appearing from the situation in Iraq, with the potential for severe disruption in finished steel demand from the region.