TURKEY May 25 2016 12:16 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) rose sharply by another $10 a ton week-on-week to $320 a ton during the week ended May 06, 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 $12 a ton from last Friday to end the week at $326 a ton CFR Iskenderun port.
A US East Coast exporter sold a cargo to a Turkish mill at $330 a ton and a trade that was completed last week between a Turkish EAF producer and an international trading house was confirmed at $320 a ton.
Participants have been surprised by the recent increase as many had thought the market plateaued, especially considering that Chinese billet prices have also declined. The index is now at its highest level since October 2014.