ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) plunged by $17 a ton week-on-week to $265 a ton during the week ended March 31, as per the latest figures from the Steel Index.

For Live US Scrap Silver Prices Log on to Scrap Register

Market sentiment now looks to be increasingly optimistic, with at least one trade heard at $270 a ton during the week.

The scrap rebar spread remains reasonably wide, at $155.5 a ton, and the TSI BOF-EAF cost model indicates the two production routes are nearing parity again in terms of total cost per tonne of crude steel.

This may well drive more demand for scrap from Turkish mills, agreeing with the sentiment of a couple of market sources who commented that the market has room to move higher.

However, the Turkish Scrap market saw a slight rebound during the week, with prices rising from $263 a ton at the start of the week to $267 a ton on Friday. This comes after over three weeks of falling prices.

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