TURKEY November 21 2016 10:01 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) advanced by $6 a ton to $225 a ton during the week ended October 21, as per the latest figures from the Steel Index.
The daily Turkish scrap benchmark for HMS #1&2 80:20 rose again during the week and reached $221 a ton CFR Iskenderun port.
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 the week.
Scrap prices hovered around the $220 a ton for a number of trades, yet asking prices were being heard closer to $225 a ton 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.