Imported scrap price continue to rise in Turkey as price touch 4 months high.
In rise to coking coal, iron ore, billet and local Turkey steel price. Imported scrap buying remains positive in Turkey seaborne market.
Turkey Scrap prices trended up further by USD 3-4/MT this week as HMS 80:20 traded at USD 228-230/MT US Origin. It’s a consecutive hike in prices this week that remain positive since beginning of Sep’16.
HMS 80:20 Europe based origin traded at USD 220-222/MT CFR Turkey
Pakistan: Positive buying sentiment also heard in Pakistan as shredded offer inch up further by USD 238-240/MT from last traded USD 235/MT.
Buying in India and Bangladesh continue to remain low whereas, Pakistan buyer are very active and our offers has increased further by USD 3-4/MT for Nov’16 delivery said a India based trader.
Offers to India market also rise in line to global offer by USD 2-3/MT however trade was not heard.
Global Imported Ferrous Scrap Offers in Week 43
| Particular | Size | Prices | 1W | 1M |
| CNF India | HMS(80:20), Europe | 222-224 | 222 | 225 |
| HMS-1, Middle East | 230 | 232 | 222 | |
| HMS-1&2, S.Africa | 222 | 222 | 220 | |
| Shredded, Europe | 235-238 | 235 | 240 | |
| Shredded, US | 232-234 | 231 | 240 | |
| CNF Taiwan | HMS(80:20), US | 195-200 | 190-194 | 213 |
| CNF Turkey | HMS(80:20), US | 228-230 | 220 | 223 |
| CNF Bangladesh | Shredded, Australia/Europe | 240-245 | 237 | 247 |
| HMS 80:20, Australia/Europe | 230 | 230 | 235 | |
| CNF Pakistan | Shredded, US/Europe | 238-240 | 235 | 237.5 |
Source: SteelMint Research
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