Turkish Scrap prices fall $16 a ton over September

by Vibin Antony of Scrap Register.

TURKEY October 07 2016 11:11 AM

ANKARA (Scrap Register): Turkish scrap prices fell $16 a ton over September, closing at $210 a ton on the final day. A number of cargoes were booked either side of the mid-month Eid holiday, however, prices fell due to concerns over the health of domestic end-user markets, reported the Steel Index.

HMS #1&2 80:20 scrap import prices slipped a few dollars in the first week of September, with a US East Coast cargo sold to an Iskenderun-based steel producer at a normalized price of $225 a tonne CFR Iskenderun port. Two UK-origin cargoes also concluded early on in the month at similar levels. 

Unlike in August, there was a flurry of booking activity in September, albeit at slightly lower price levels. This was despite the mid-month hiatus as a result of the Eid holiday in Turkey. One Izmir-based mill in particular booked more than 180,000 tonnes of scrap over a five-week period. 

Indeed, following the holiday, purchasing activity resumed with US East Coast origin cargoes priced between $215-218 a ton for HMS #1&2 80:20. A couple of Baltic-origin cargoes followed, with pricing closer to $212-213 a ton.

Finally, two further bookings from the US and UK towards the end of the month saw the benchmark index settle at $210 a ton.