TURKEY June 30 2014 9:35 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) remained flat week-on-week at $371 a ton in the week ended June 27th this year, as per the latest figures released by the The Steel Index.
The Turkish market saw American scrap exporters finally re-enter, but it created no ripples-transaction levels were lower than targeted, but not to a surprising degree.
Higher prices from the US were largely counterbalanced by transactions at lower prices from other origins; week-on-week, TSI’s index for imports of HMS #1&2 80:20 is flat at $370 a ton.
TSI’s daily price fell from $371/t early in the week to $370 a ton on Wednesday, but ended the week back at $371 a ton with some Friday sales exceeding that level after normalizing to Iskenderun port.
Turkish steel mill exports face stiff competition from increasingly lower-cost Chinese BOF mills (vis-à-vis scrap), posing the question ‘to melt, or re-roll’?