TURKEY June 12 2017 12:22 PM
ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) edged up by $01 a ton week-on-week to $273 a ton during the week ended May 26, as per the latest figures from the Steel Index.
According to TSI, the benchmark index for HMS 1&2 80:20 scrap edged up, despite a large number of trades being reported.
TSI heard near 300,000 tons of deals concluded during the past week, yet all normalized to the range $269-$273.5 a ton for HMS 1&2 80:20.
This increase in trading is expected to be as a result of Ramadan beginning this week, a period in which historically trading activity slows.
Therefore, coupled with continuing weak export demand for finished products, market participants are not expecting any significant rise in scrap prices in the near future.
