TURKEY November 17 2016 9:12 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) advanced by $7 a ton to $219 a ton during the week ended October 14, as per the latest figures from the Steel Index.
The scrap market continued to see trades being booked despite there being macroeconomic uncertainty surrounding the Turkish market, with the Turkish lira dropping to an all-time low against the US dollar during the week.
Scrap prices hovered around the $220/t for a number of trades, yet asking prices were being heard closer to $225/t from premium Baltic and US suppliers.
According to market participants, the rise in scrap prices is seen as a direct response to an increase in rebar prices.