Turkish HMS 1/2 80:20 scrap import prices may continue to drop in October

TURKEY October 20 2014 11:15 AM

ANKARA (Scrap Register): With prices still seemingly in freefall mode at the end of September, the momentum is firmly behind further falls in Turkish scrap import prices in October.

It remains to be seen what level of pricing will prompt mills to return to buy-ing in earnest-with winter on the doorstep the next few weeks provide an opportunity for mills to build inventory.

Whether they choose to do this or not will be a good indica-tor as to the health of the market looking to 2015.

According to TSI, September average benchmark index for Turkish imports of HMS #1&2 80:20 fell by 2.9%, just over $11 a ton, month-on-month. The daily index finished lower at the end of each of the five weeks in the month.