Scrap prices have increased with Turkish buyers replenishing their stocks after thin buying in recent months, and because of the higher collection costs resulting from the winter weather.
Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) scrap material was calculated at $319.28 per tonne cfr on February 7, up from $297.39 on the corresponding day last week.
In response, billet offers in the Turkish domestic market jumped to $460 per tonne ex-works this week, from $440 per tonne ex-works...
