TURKEY November 10 2015 10:17 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) bounced back by $12 a ton week-on-week to $183 a ton in the week ended October 30, as per the latest figures from the Steel Index.
According to TSI, daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 rose $13 a ton from last Friday to end the week at $187 a ton CFR Iskenderun port.
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Trades were heard completed just over $180 a ton following the weekend, before the price rose further before the public holiday commenced on Thursday.
Despite differing views in the market, this concrete rise in prices paid for material would seem to point to the fact that supply has now been reigned in.
Mills may also be moving to secure material before winter sets in around scrap supply regions - historically, winter sees prices hiked in the scrap markets.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)