TURKEY November 25 2016 10:35 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) climbed further by $10 a ton to $235 a ton during the week ended October 28, its highest level in nearly five months, as per the latest figures from the Steel Index.
The price increases seen the past few weeks have come on the back of significant coking coal price rises, which in turn has increased the competitiveness of EAF-based producers.
The rebar market has not, however, seen the same price hikes as scrap recently, and therefore market participants believe that price levels for scrap may remain stable as demand begins to wane.
On the other hand, Black Sea export billet prices have seen increases in excess of 10% in recent weeks, which, according to market participants, may filter through to higher scrap prices.