TURKEY November 10 2016 9:33 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) continued to fall by $5 a ton to $212 a ton during the week ended September 30, as per the latest figures from the Steel Index.
According to TSI, weekly index for deep-sea Turkish imports of HMS #1&2 80:20 decreased $5 a ton to close the week at $212 a ton. The week began with limited trading taking place, with many market participants attending the IREPAS conference.
General consensus from the conference was that scrap demand is expected to pick up in the coming months; however the market is keeping an eye on Black Sea billet export prices, which have declined throughout September.
Moreover, market sources are also expecting Turkish domestic and export rebar prices to remain flat in the near term, as demand is still not strong enough to support higher prices.