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Turkish HMS 1/2 80:20 import prices decline to $284 a ton

iconJan 23, 2017 15:24
Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) declined further by $4 a ton week-on-week at $284 a ton during the week ended January 20, as per the latest figur

TURKEY January 23 2017 10:12 AM

ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) declined further by $4 a ton week-on-week at $284 a ton during the week ended January 20, as per the latest figures from the Steel Index.

Demand from mills dampened, largely on the weakening lira, which is keeping mills to purchasing the minimum that they can get away with. 

In addition, after a 3 month bull run, the US market looks to be rapidly weakening, which is bringing material back to the export market, and pressuring other scrap exporters to lower prices. 

A battle of wills seems to be ensuing, as mills are looking to preserve tightening margins, while suppliers are facing higher collection costs, meaning they are unwilling to consider a price much below $280 a ton. 

With rebar export prices also falling, losing $2.50 a ton on the week, the mills are finding themselves in an uncomfortable position looking forward.

Turkish HMS 1/2 80:20 import prices

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