Turkish HMS 1/2 80:20 scrap import prices edge up to $371 a ton

TURKEY June 23 2014 9:42 AM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) edged up by 0.3% week-on-week to $371 a ton in the week ended June 20th this year, as per the latest figures released by the The Steel Index.

According to TSI, the deep-sea import market for Turkish scrap has been a bit of a mixed bag over the last week. On the face of it not much has changed, with weekly average for HMS #1&2 80:20 rounding out the week at $371 a ton, CFR Iskenderun, up $1 a ton week-on-week.

The Baltic has dominated this week, with a range of grades sold. Despite a strong showing early on, prices drifted back downwards, with TSI’s daily price down $1 a ton on Friday to $371 a ton.

The yawning gulf between scrap and iron ore prices remains a source of worry for buyers, perhaps more than disruption to the Iraqi market.

Nevertheless, the market is not universally agreed on direction: some are noting a potential fillip if the US market settles early (and up) for June.