A child and two police officers were killed by a car bomb outside a police station in southeastern Turkey on Monday, the provincial governor said, blaming the attack on Kurdish militants.Twenty-five people, eight of them police, were wounded in the att…
Nine in 10 kids don’t eat enough vegetables and gobble too much salt. One in three children inside Jefferson County Public Schools carries too much weight.Those statistics worry Liz Cannon, whose daughter Elise Cannon weighs 50 pounds – just right, her…
شركة التطوير العقاري إكستيل وأس أم آي يو أس أيه تعلنان عن مشروع مشترك لبناء برج سنترال بارك في نيويورك
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Press headlines for August 13, 2016, are as follows: AN-NAHAR:——— Berri: WE won’t allow vacuum in Army command position “Maarab agreement” parties warm up efforts to unify their rapprochement on electoral law ASSAFIR:——– Salute to those who …
XUZHOU, China, Aug. 12, 2016 /PRNewswire/ — Global leading construction and mining equipment manufacturer XCMG released the new generation S9 platform concrete machine products at a release conference on July 29 in Xuzhou, a much-anticipated series featuring the world’s longest three-axle 52-meter truck-mounted concrete boom pump HB52Kas well as a four-axle 58-meter truck-mounted concrete boom […]
Partnership To Develop Tallest Residential Building In The Western Hemisphere NEW YORK, Aug. 11, 2016 /PRNewswire/ — Extell Development Company, a premier luxury real estate development firm with a portfolio exceeding 20 million square feet, and SMI USA (SMI), the US subsidiary of Shanghai Municipal Investment, a leading infrastructural investment company responsible for the esteemed […]
Peter Mansoor is a self-described “lifelong Republican” and a “foreign policy hawk.” The retired U.S. Army colonel boasts an unswervingly conservative voting record.”I’ve voted for every Republican presidential candidate from Reagan to Romney,” said Ma…
A German woman detained in Turkey as part of Ankara’s crackdown in the wake of last month’s failed coup has been freed, Berlin confirmed Friday. “The Foreign Ministry confirms a report in the Spiegel magazine, that the German citizen, who was a arreste…
Expectations for the Turkish ferrous scrap market widened between merchants and Turkish mills on Thursday, revealing a higher midpoint over the previous day.
US and Baltic offers clambered over the $230/mt mark, according to several Turkey-based agents for scrap sellers.
“I’m hearing that US offers are at $230/mt plus – maybe $233-$234/mt,” said one of the agents. “It feels like the US market is bullish.”
The second agent agreed, saying that similar offers were coming from premium-quality Baltic sellers. He added that the direction of the market would now be dependent on European exporters and what level they would indicate to the Turkish market.
Domestic European settlements for August saw some upside in a range of Eur5-10/mt, making it unlikely that yards would accept any decrease in the wider market.
Shortness of material remained a driving factor, according to a Baltic merchant.
“The last increase was driven buy a shortage in supply and yards have still not fully recovered,” he said.
Good support remained from Asian prices, according to a third scrap agent.
“Expectations seem to be that Turkish buyers need to restock on both scrap and rebar,” he said. “But demand for finished products in the Us is down. There’s lots of factors at the moment for the price, we’re still waiting to see which way it plays out.”
This was weighted against bearish motions from Turkish buyers, likely based on the poor strength of their domestic finished products market. A buyer said that mills were unwilling to pay higher than $220/mt today, and reported hearing a weaker sale from a premium merchant. Also mentioned was a potential sale from a Baltic merchant, but no further information could be found to flesh out the trades.
Despite bearish pressure, the buyer put the market $224-$228/mt Thursday.
S&P Global Platts assessed HMS I/II 80:20 at $230/mt, up $2/mt from Wednesday, reflecting a midpoint between premium-quality 80:20 offers and the highest ‘bid’ given by a buyer.