TURKEY August 11 2014 3:50 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) up by $1 a ton week-on-week to $382 a ton in the week ended August 08th this year, as per the latest figures released by the The Steel Index.
However, the daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 rose by $4 a ton from last Friday, to finish the week at $385 a ton.
The market reached somewhat of an impasse last week - with cargoes booked steadily over the Ramadan period, mills had no need to rush into the market, whilst scrap remained scarce across Europe and US offers were deemed too high.
This meant yards were happy to wait for mills to come to them and were confident that pricing would eventually move to the upside, which was borne out late in the week with some confirmed trading activity at higher prices.