TURKEY April 18 2016 10:25 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) gained by $5 a ton week-on-week to $234 a ton during the week ended April 01, 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 $10 a ton from last Friday to end the week at $239 a ton CFR Iskenderun port.
Some traders were stating as far back as three weeks ago they would hold out for $240/t, and this now looks to have been a good move with a number of trades completed between $239/t and $240/t.
As the latest round of buying has only kicked off this week, it would appear that prices have room to move beyond $240/t.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)