TURKEY December 12 2016 9:16 AM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) rose further by $10 a ton to $272 a ton during the week ended November 18, as per the latest figures from the Steel Index.
The huge support scrap prices have received from high coking coal no longer looks so certain, as China’s National Development and Reform Commission announced that they were increasing the number of permitted mining days for coal producers from 276 to 330 days per year.
This may cause a fall in coal prices, which could rapidly filter through in the scrap market. The news broke late Thursday, but Premium Hard Coking Coal (FOB Australia) prices did not see any change on the day with the price at $308.80 a ton Friday.
Turkish export rebar prices saw more impressive gains however, moving up around 4% on the week, while Black sea billet looked stable.