Turkish HMS 1/2 80:20 import prices drop further to $266 a ton

TURKEY December 23 2016 1:24 PM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) dropped further to $266 a ton during the week ended December 09, as per the latest figures from the Steel Index

The daily Turkish scrap benchmark for HMS #1&2 80:20, CFR Iskenderun port, closed at $266 a ton on Friday, a $2 a ton drop week-on-week. 

Trading resumed this week after a lull of nearly two weeks, with two European cargos bought by Iskenderun EAF-based producers. 

In the US, buy-week has gotten under way with Midwest prices seeing an increase of US$40-$50/long ton from November’s settlements. 

According to market participants the limited amount of shipping days in December, which are as a result of a protracted buy week and the holiday season, has given scrap suppliers a negotiating advantage in dealing with mills.