UNITED KINGDOM December 21 2015 4:28 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) stayed unchanged at $190 a ton week-on-week during the week ended December 11, 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 dropped $1 a ton from last Friday to end the week at $189 a ton CFR Iskenderun port.
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Trade was light this week with only a few trades completed at stable pricing levels. HMS #1&2 80:20 cargoes traded at around $190 a ton, with higher priced cargoes a result of prompt delivery being required.
There is a bearish sentiment in the market again due to Chinese billets returning as a potential threat as a result of the reduction in export duty out of China.
For now, however, many expect the Turkish scrap market to remain stable with little activity, even with billet and iron ore prices experiencing significant drops.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)