TURKEY March 21 2017 5:27 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) shot up by $15 a ton week-on-week during the week ended March 10, as per the latest figures from the Steel Index.
According to the Steel Index, the HMS 1&2 80:20 index saw a 5.9% increase week-on-week, whilst also breaking through the $300 a ton mark for the first time since May 2016, to reach $303 a ton.
Prices have now seen a 32.9% rise since the start of February. A US bulk scrap cargo sale was concluded late Tuesday, which in turn lifted Turkish import prices to be more in line with the US domestic market.
The sale was heard at $303 a ton for HMS 80:20, which was $20 a ton above the previous US sale in February. Another ex-Houston trade came to light late Wednesday, although this was at the same price level.
The aggressive bullish tones last week in the US seems to have settled slightly, however, with domestic prices currently reported up between $20- $50 a long ton, as opposed to last week’s expectations of a $40- $60 a long ton rise.
