TURKEY May 12 2015 5:46 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) gained by another $4 a ton week-on-week to $282 a ton during last week, as per the latest figures from the Steel Index.
Mills have continued buying high volumes of scrap on the back of a buoyant domestic finished steel market in Turkey. Scrap merchants have been able to push up the price with every cargo sold, with supply remaining relatively tight.
European sellers have also upped prices on the back of currency movements, to ensure they remain on parity in Euro terms.
Despite this market buoyancy there is a feeling that mills are making hay while they can before cheaper Chinese material find its way into the market once more.
However, TSI’s daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 finished the week $10 a ton higher from last Friday at $286 a ton CFR Iskenderun port.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)