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Turkish HMS 1/2 80:20 import prices shoot up to $262 a ton

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ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) shot up by $15 a ton to $262 a ton during the week ended November 11, as per the latest figures from the Steel Index.

Scrap is still experiencing a tailwind from elevated coking coal prices, which make EAF produced steel far more competitive than the traditional integrated route.

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The TSI Premium Hard Coking coal (FOB Australia port) price broke through the $300 a ton mark during the week to close at $307.30 a ton, the highest level since 2011.

This is up approximately 300% from January 2016. Turkish rebar export prices were at $420 a ton, a $12.50 a ton rise on the week, indicating that Turkish mills are taking scrap preferentially and passing on the scrap price rise to rebar markets.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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