TURKEY January 04 2017 5:19 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) jumped by $16 a ton week-on-week to $289 a ton during the week ended December 23, as per the latest figures from the Steel Index.
It has been a busy week in the scrap market, with TSI picking up near 400kt of concluded trades reported into Turkey.
UK and Baltic origin cargoes were heard in the $288-290 a ton range, whereas a US origin cargo was heard at $296 a ton, although this was largely deemed unrepeatable by sources in the market.
Looking into Q1, Turkish steel mills are expecting rebar demand to gradually rise, particularly in Asian markets, in turn resulting in higher offers which could ultimately lead to further price hikes in scrap.
