TURKEY August 05 2016 10:05 AM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) dropped further to $218 a ton during the week ended July 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 dropped $5 a ton during the week to close at $217 a ton CFR Iskenderun port. 

The beginning of the week saw a flurry of trading activity, with approximately 360kt of scrap reportedly sold across a number of deals in two days. 

Turkish mills have however continued to reduce export prices for finished long products, and therefore participants believe that scrap prices may follow lower in the coming weeks. 

However, with next week marking the end of Ramadan with Eid festivities to follow, market sentiment is expected to pick up again.