TURKEY March 06 2017 5:08 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) edged up by $1 a ton week-on-week at $283 a ton during the week ended March 03, as per the latest figures from the Steel Index.
According to The Steel Index, HMS 1&2 index experienced minimal movements up until late in the week when a couple of trades came to light. These pushed the index slightly higher to $283 a ton.
After strengthening against the US dollar for the past month, the Turkish lira weakened again the past few days which has resulted in Turkish mills increasing domestic prices twice this week for long products.
The US Department of Commerce announced this week that they will be placing a 209% preliminary dumping margin on imports of Japanese rebar.
Rates were, however, much lower for Turkey - the largest exporter to the US, at 6.2% for the majority of producers and exporters. According to market participants these measures were better than expected and so they presume Turkey’s producers will be back in the market again on short notice.