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Turkish ferrous scrap import prices see mild recovery in early 2015

iconJan 21, 2015 17:21
Source:SMM
After several months of price declines, the ferrous scrap import prices in Turkey have shown signs of recovery during January 2015.

 Author: Paul Ploumis21 Jan 2015 Last updated at 02:56:23 GMT

 
ANKARA (Scrap Monster): After several months of price declines, the ferrous scrap import prices in Turkey have shown signs of recovery during January 2015. However, the mild recovery seen in the region failed to get reflected in other parts of the world, especially the Far East.
 
According to latest Turkish import data, CFR shipment price for standard quality HMS I/II 80/20 scrap from Europe into the country stood at US$ 310-315 per tonne. Also, the shipments of shredded scrap from Europe were priced at US$ 315-320 per tonne CFR during early 2015.
 
However, ferrous scrap imports to Asian countries continue to reel under pressure. The US ferrous scrap export to Asian region failed to see recovery in prices due to several reasons including rising strength in US dollar and abundant availability of cheaper iron ore/billet. Moreover, the sharp drop in domestic prices in Japan has resulted in lower buy quotes from Japanese buyers for imported scrap. In addition, the steel making momentum has failed to make big leaps in Asian countries, keeping the scrap prices under pressure.
 
The scrap exporters in the US had anticipated $10-30 per tonne gain in scrap prices during the January trading cycle. However, the Jan ’15 prices were mostly sideways from December levels in Southeastern markets.
 
The scrap import prices in Turkey had shown modest recovery towards end-December last year. The imports in early-2015 have held on to those gains. However, similar trend was not visible in other global markets.
Turkey
scrap import price

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