The Turkish market of imported scrap surged again by USD 4-6/MT.
Since July’16 imported scrap prices in global market are in upward trend due to rising coking coal prices. Coking Coal prices double in a month between Aug’16 to Sep’16 to present trading above at USD 250/MT (FoB, Australia).
Turkey market participant reported price to remain bullish further in coming days by USD 10-12/MT. This week price already up by USD 9-10/MT and M-o-M basis by USD 30/MT.
Turkey HMS Scrap 80:20 reach to USD 244/MT CFR US Origin and 235-237/MT Europe origin. Prices hit 4 month high to May’16 levels.
Asia Market Shy Away:
Scrap buying in Asia market remains subdued as compared to international trades. Buying activity in India and Bangladesh remains to offer quantity however sellers are optimistic that trades will resume this week post holidays.
Global imported ferrous scrap offers in week 45
| Particular | Size | Prices | 1W | 1M |
| CNF India | HMS(80:20), Europe | 230 | 228 | 220 |
| HMS-1, Middle East | 230 | 230 | 230 | |
| HMS-1&2, S.Africa | 225 | 225 | 220 | |
| Shredded, Europe | 245 | 241 | 233 | |
| Shredded, US | 245 | 239 | 232 | |
| CNF Taiwan | HMS(80:20), US | 215 | 205 | 195 |
| CNF Turkey | HMS(80:20), US | 244 | 234 | 212 |
| CNF Bangladesh | Shredded, Australia/Europe | 250 | 246 | 241 |
| HMS 80:20, Australia/Europe | 240 | 235 | 222 | |
| CNF Pakistan | Shredded, US/Europe | 248 | 243 | 232 |
Source: SteelMint Research
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