Scrap metal import prices recovered in Turkey

After several months of price declines, ferrous scrap showed signs of rising import prices in Turkey in early 2015. However, the slight recovery seen in Turkey has not been reflected in other parts of the world, especially in the Far East region.

According to the latest data on Turkish imports, the price of shipment of scrap metal from Europe quality standard HMS I /II 80/20 was 310-315 dollars per ton CFR. In addition, at the beginning of 2015, shipments of cut scrap metal were carried out from Europe at a price of USD 315-320 per tonne CFR.

However, imports of ferrous scrap to Asian countries continue to experience pressure on prices. Exports of US ferrous scrap in the Asian market did not see a recovery in prices for several reasons, including rising tensions in US dollars and the availability of cheap iron ore and billets. In addition, a sharp drop in prices on the domestic market in Japan led to a decrease in demand from Japanese buyers for imported scrap.

Scrap metal exporters from the US are expecting a price increase of $ 10-30 per tonne during the trade cycle in the early 2015 phase. However, prices for January were mostly in line with December in the Southeast region.

Scrap metal import prices to Turkey last year showed a moderate recovery towards the end of December. Imports in early 2015 reinforced these gains. However, a similar trend has not been seen in other global markets.