TURKEY March 01 2016 11:23 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) advanced by $5 a ton week-on-week to $180 a ton during the week ended February 26, as per the latest figures from the Steel Index.
However, the daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 rose by $12 a ton from last Friday to end the week at $187 a ton CFR Iskenderun port.
Talk of higher pricing came to fruition this week, with material booked at $185 a ton mid-week and further trades nearer $190 a ton by the end of the week.
Various factors have combined to give scrap prices a boost – India has booked multiple bulk scrap cargoes around the $190 a ton level in the last couple of weeks, whilst post-lunar New Year restocking of iron ore by Chinese mills has pushed up both iron ore and billet prices.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)