The Turkish ferrous scrap market rose on Tuesday as Chinese rebar prices hit a near 10-

year high due to production curtailments to tackle pollution. 

Platts TSI assessed Turkish imports of premium heavy melting scrap I/II (80:20) at $346/mt 

CFR Tuesday, an increase of $11.50 from Monday's assessment. 

Three cargoes were heard sold late Monday and three more on Tuesday at notably higher prices than last week's deals. 

The  latest  trade  confirmed was a Benelux cargo sold to a Samsun based mill consisting of 

15,000 mt 75:25, 5,000 mt shredded and 20,000 mt plate and structural at an average cargo 

price of $350/mt. This equates to $346/mt for 80:20 material. 

A European trader said the Chinese production cuts were the main influence on scrap prices. 

He added that strong demand in Europe and the US were the other main price drivers at the 

moment. 

Some sources said they believed the market may see further increases before the end of the 

year.   m"I  would  not  be  surprised  if  we  see  prices around $370/mt in the near future," a 

European trader said. Adding that in the domestic EU market "prices are...already reach[ing] 

the top levels of last the two years." 

The  Turkish  scrap  swaps forward curve, which is settled against the Platts TSI daily assess 

ment, was trading at $344.50/mt for the current month, up $2 from Monday. 

January was trading at $347/mt, while February and March 2018 flattened out the curve, with 

both at $346.50/mt.