Turkish HMS 1/2 80:20 import prices continue to decline to $223 a ton

TURKEY July 28 2016 12:21 PM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) continued to decline to $223 a ton during the week ended June 24, 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 dropped by $7 a ton during the week to close at $220 a ton CFR Iskenderun port.Deals were booked throughout the week, however, with the market outlook continuing to be unclear, mills held back from booking any more material than was absolutely necessary. 

With the news of Brexit shocking the markets, market participants believed that the currency volatility may reduce trade activity in the short term. 

On the other hand, if the dollar continues to strengthen it would lead to scrap prices becoming more affordable and hence encourage further buying in the market.