TURKEY May 02 2016 10:06 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) rose significantly by $18 a ton week-on-week to $264 a ton during the week ended April 15, 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 by $7 a ton from last Friday to end the week at $267 a ton CFR Iskenderun port.
Scrap prices continue to rise, with mills now carrying a lot more confidence in terms of their finished steel order books and their ability to pass higher costs onto customers.
Both buy and sell side participants see scrap rising to $280 a ton in due course, displaying their confidence in steel prices.
Scrap sellers face little competition from semi-finished exports, and are seeing increased enquiries from mills outside of Turkey, further strengthening their hand.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)