Turkish ferrous scrap prices rise again on fresh deals
Cairo (Platts)--22Feb2013/1152 am EST/1652 GMT
Turkish scrap import prices continued to firm Friday, with mills booking
further cargoes after the mid-week tender from the US, which saw prices jump
$10/mt, sources told Platts.
Late Friday, it came to light that a cargo of heavy melting scrap I/II
(80/20), shred and plate and structural traded at $402-407-412/mt CFR Aliaga
late Thursday. Accordingly, Platts daily assessment increased $1/mt to
$402/mt CFR Turkish ports Friday.
A 35,000 mt cargo of heavy melting scrap I/II (90/10 blend) and bonus,
which came to light just after the mid-week tender was booked at $405/mt CFR
Aliaga, showed largely stable prices on the previous sale, while a $400/mt
CFR Marmara booking for HMS I/II (80/20 blend) from the US East Coast to a
major electric arc furnace showed further stabilization.
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Meanwhile, a cargo from the UK was also booked by a Turkish EAF at
$394/mt CFR Aliaga for HMS I/II (80/20 blend), which typically trades at a
slight discount to US-origin material.
UK sellers have been aided this week by the extremely weak pound
sterling against the US dollar, facilitating several deals into Turkey.
--Ciaran Roe, email@example.com
--Edited by Katharine Fraser, firstname.lastname@example.org