ANKARA (Scrap Register): Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) advanced further by $02 a ton week-on-week to $274 a ton during the week ended April 14, as per the latest figures from the Steel Index.
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The Turkish market remained quiet, in the wake of Erdogan’s narrow win in the referendum. The market stalled somewhat in the build up to the vote, with people waiting to see what the outcome would be, and now the market is looking to see how the result will impact the country.
Sentiment in the scrap market weakened somewhat, with many prices across the ferrous complex slipping over the weekend.
Oversupply from Chinese mills has seen semi-finished and finished product prices fall in Asian markets, and the outlook across the board has turned increasingly bearish.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)