Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) dropped by $3 a ton week-on-week to $257 a ton during last week, as per the Steel Index.
Some US suppliers were offering material at $260 a ton and above, whilst Russian suppliers were willing to sell lower owing to their favorable forex situation.
Participants are perhaps waiting to see how well recent rebar price rises are received in the market before making decisions on further material purchases.
Greater clarity may emerge following the IREPAS conference early next week.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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