TURKEY September 20 2016 7:22 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) down to $226 a ton during the week ended August 19, as per the latest figures from the Steel Index.
According to TSI, daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 dropped $3 a ton this week, closing today at $225 a ton CFR Iskenderun port.
Trading activity was limited again the week; however, those deals that were confirmed were seen in the range of $224-$226 a ton. According to market participants it is demand for finished products that will determine the direction of imported scrap prices in the near future.
Market sources stated that stockists in Turkey have had to adjust their rebar offer prices downward this week as a result of the low demand.
Furthermore, the appreciation of the lira against the dollar over the past two weeks has also resulted in mills shipping fewer finished products.