ANKARA: Turkish scrap import prices declined sharply by $10 a ton week-on-week to $247 a ton in the week ended, as per the latest figures released by the Steel Index.
Trade was light the week as mills and yards appeared again to be at loggerheads over pricing. A scrap tender from a mill was heard to lapse as no acceptable offers were made and scrap traders stood their ground.
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Despite reports of a trade being completed significantly below $245/t, the $245-250/t level seems to be the level at which scrap yards are pushing back for now – time will tell if this holds, with participants already looking to the next round of US domestic sales for prompts on Turkish import pricing.
