Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) remained flat week-on-week at $257 a ton during last week, as per the Steel Index.
Previous hopes for a degree of pricing clarity after Monday’s IREPAS conference proved unfounded as the Turkish scrap market last week was characterised by a continuation of the ‘wait and see’ approach from the buy and sell sides.
With both finished steel and iron ore prices remaining depressed, scrap faces pressure in order to remain competitive while maintaining a sustainable margin for suppliers.
Market sentiment remains bleak and it will be interesting to see which side buckles first in the current stand-off between buyers and sellers.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
No comments:
Post a Comment