Turkish HMS 1/2 80:20 scrap import prices decline sharply to below $300 a ton mark

Feb 3, 2015 13:33

Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) declined sharply by $14 a ton week-on-week to $297 a ton in the week ended January 30.

TURKEY February 03 2015 10:35 AM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) declined sharply by $14 a ton week-on-week to $297 a ton in the week ended January 30, as per the latest figures released by the Steel Index.

According to TSI, daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 finished the week $26 a ton lower from last Friday at $282 a ton CFR Iskenderun port.

A large move in pricing often follows a prolonged period of inactivity in the Turkish scrap import market, but few would have predicted a correction of this magnitude.

Following a mini winter revival, the Turkish scrap market seems to have finally succumbed to the influence of depressed iron ores prices and steel markets.

The iron ore: scrap ratio has been hinting at a significant correction for months, and this move should help Turkish mills to become more competitive in the global finished steel market.

the Steel Index

Turkish HMS 1/2 80:20 scrap import prices

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Turkish HMS 1/2 80:20 scrap import prices decline sharply to below $300 a ton mark

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