ANKARA: Turkish HMS 1/2 80:20 scrap import weekly average prices (CFR Iskenderun Port, Turkey) gained further by $12 a ton to $247 a ton during the week ended November 04, its highest level since May 31, as per the latest figures from the Steel Index.
The scrap market continues to see support from the dramatic rise in coking coal prices, which is continuing to make EAF-based steel producers more competitive. Moreover, integrated furnaces have also begun adopting more scrap in their mix and, according to a market participant, have increased scrap consumption from 13% to around 20% this year. Billet prices have also seen a 4.3% increase on the week, which further helped push scrap prices higher.
