Scrap prices in Turkey remained high, with producers continuing to book material on Friday.
Fastmarkets’ daily index of North Europe-origin ferrous scrap HMS 1&2 (80:20) was $321.21 per tonne cfr on Friday, up from $318.37 per tonne cfr a week earlier.
Meanwhile, the index for 62% Fe iron ore was $85.96 per tonne cfr Qingdao on Friday, down only slightly from $86.52 per tonne cfr a week earlier.
CIS, Turkey, Egypt
The export market in the Commonwealth of Independent States finally saw a thaw in buying activity last week despite the fact that not all customers were ready to accept the prices quoted by mills.
Offers from CIS producers for April-rolling material varied within the range of $460-465 per tonne fob Black Sea, because of raw materials costs, while most bids were below $450 per tonne fob Black Sea.
The lowest bids were heard from Turkey, where customers were ready to pay no more than $450...