TURKEY November 16 2015 3:50 PM
ANKARA (Scrap Register): Turkish
HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) advanced
sharply by $10 a ton week-on-week to $193 a ton in the week ended November 06,
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 $8 a ton from last Friday to end the week at $195 a ton CFR Iskenderun port.
Numerous cargoes were booked around $192-193 a ton from European and Baltic suppliers early this week, before pricing advanced to $195 a ton on Thursday.
Offers out of the Baltic and US are now apparently nearing US$200/t. This uptick in pricing has emanated from a clear up-shift in Turkish domestic steel demand, meaning mills have been on the hunt for multiple prompt cargoes.
With iron ore prices on the decline it remains to be seen if these price hikes in Turkish imports can be sustained in the long term.