TURKEY March 17 2016 11:29 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) gained further by $14 a ton week-on-week to $208 a ton during the week ended March 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 rose $14 a ton from last Friday to end the week at $211 a ton CFR Iskenderun port.
Prices continued to climb off the back of finished steel price hikes, as well as positive sentiment emanating from China.
However, with iron ore now beginning to fall back again merchants are starting to question this rise, suggesting it may not be sustainable and that it is based on speculation more than any substantial structural change in the markets.
What is for certain is that the competition from Chinese billet exports has subsided for the time being.