ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) advanced by $7 a ton to $219 a ton during the week ended October 14, as per the latest figures from the Steel Index.
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The scrap market continued to see trades being booked despite there being macroeconomic uncertainty surrounding the Turkish market, with the Turkish lira dropping to an all-time low against the US dollar during the week.
Scrap prices hovered around the $220/t for a number of trades, yet asking prices were being heard closer to $225/t from premium Baltic and US suppliers.
According to market participants, the rise in scrap prices is seen as a direct response to an increase in rebar prices.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)