Home / Metal News / Turkish HMS 1/2 80:20 import prices continue to decline to $235 a ton

Turkish HMS 1/2 80:20 import prices continue to decline to $235 a ton

iconJun 29, 2016 09:48
Source:SMM
Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) continued to decline to $235 a ton during the week ended June 10.

TURKEY June 28 2016 5:58 PM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) continued to decline to $235 a ton during the week ended June 10, as per the latest figures from the Steel Index.

According to TSI, the daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 dropped $12 a ton during the week and settled at $230 a ton CFR Iskenderun port.

After five weeks of silence in the Turkish scrap market, trades have finally been booked in a burst of activity. Market participants are expecting this to continue into next week as mills need to re-stock their inventories. 

Deals observed had a spread of $21/t, with one cargo being booked as high as $245/t; however market consensus was that this was $15-$20/t above where the market will settle for the near term. 

Suppliers were evidently attempting to push prices up with high offers; however, with no takers they were risking sending buyers to the Chinese billet market.


scrap import average prices
Turkish HMS 1/2 80:20 scrap import average prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news