August 28, 2008

Scrap prices continue to soar in Turkey

It is reported that due to the strong demand for rebar and flat bars in Turkey’s domestic market, prices have soared from the middle of February 2008.

Affected by the soaring prices, most of Turkey’s steel mills have been rapidly purchasing materials. Last week, the mixed scrap price climbed to USD 460 per tonne and the predicted price will reach USD 480 per tonne due to the influence of exchange rates in the European market.

Besides, the price of A3 Black Sea scrap is soaring to USD 470 per tonne, with the price set to hit USD 500 per tonne in the near future.