TURKEY September 23 2014 10:35 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) declined sharply by $9 a ton week-on-week to $373 a ton in the week ended September 19, as per the latest figures released by the The Steel Index.
According to TSI, half a dozen cargoes were heard secured by Turkish mills this week, who were looking to replenish stockpiles having stayed away from the market for a couple of weeks.
Mills made the case for lower prices against a backdrop of falling iron ore prices, an influx of cheap Chinese billet and a flakey finished steel export market where rebar prices are also expected to decline.
Material was sourced from North American and Baltic suppliers with prices in the range of $370-372 a ton once destination port adjustments had been accounted for.