TURKEY May 21 2015 6:09 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) advanced further by $6 a ton week-on-week to $288 a ton during last week, as per the latest figures from the Steel Index.
Turkish mills continue to have a healthy appetite for scrap which, alongside continued relatively tight supply, has led to the week’s rises.
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It can be argued that the price crash seen at the start of this year affected the supply chain significantly enough for the effects to still be felt.
Although buying levels continue to remain strong the prospect of Chinese billet arriving in July alongside the slowdown associated with Ramadan may mean the appetite for scrap begins to fade.