Weekly ferrous scrap prices from TSI (The Steel Index).

1. TSI Benchmark Scrap Prices
TSI Supplementary Scrap Reference Prices: Turkish Imports
© The Steel Index 2015
Week ending February 06, 2015 (Week 06) Scrap Edition (Weekly)
Turkish Imports (CFR Iskenderun Port, Turkey) 1-week change 4-week change Low* High*
HMS 1/2 80:20, deep-sea (US$/tonne) 257 40 -13.5% 62 -19.4% 248 390
USA (Delivered US Midwest Mill)
Shredded (US$/long ton) 257 43 -14.3% 90 -25.9% 257 405
Taiwanese Imports (CFR Taiwan Port)
HMS 1/2 80:20 [containerized] (US$/tonne) 233 10 -4.1% 32 -12.1% 233 360
Indian Imports (CFR Indian Port - West Coast)
Shredded [containerized] (US$/tonne) 307 13 -4.1% 22 -6.7% 307 411
*past 12 months ** Price shown for Turkish imports is weekly average of TSI's daily index prices
TSI Benchmark Scrap Prices (US$/tonne) This Week’s Scrap Market: Turkey and the US
- TSI’s daily benchmark index for deep-sea Turkish imports of HMS
#1&2 80:20 finished the week US$34/t lower from last Friday at
US$248/tonne CFR Iskenderun port. Prices continued to slide this
week, undoubtedly taking prompts from a US market in severe decline.
Furthermore the current FX advantage held by European suppliers has
enabled them to enter the market at a lower level. The US$2 fall today
pales into insignificance compared to the recent trend of drastic daily
drops and may well offer a sign of things to come. With such a dramatic
fall in prices recently it has been suggested that the market may well
stabilise as participants adapt to the new market conditions. That said
sentiment in the Turkish scrap industry is undoubtedly still negative and
a fall of –US$10 over the next 4-6 weeks has been intimated by a
number of participants.
- TSI’s US Midwest shredded index fell US$43/long ton this week to
finish at US$257/long ton (delivered mill). Over the last two weeks the
market has suffered what can only be described as a capitulation, with
TSI’s index dropping US$86/l.t. from January. Sell-side participants had
little choice but to simply try to protect cash flow and worry about the
consequences of the low pricing later. Some sales are also yet to be
concluded, with buyers in no rush to secure material. Few saw such a
deep correction coming, with participants citing the depressed iron ore
and oil prices, along with the strong US dollar and increased steel
imports as the main protagonists. Some mills were even heard to be
buying no material for February. However this situation has been
prevalent for a few months now, leaving some bemused as why the
correction has been so sudden and severe. Something that is for sure
is that the past couple of weeks will certainly live long in the memory for
those involved in the scrap business.
This Week’s Scrap Market: Asia and India
- TSI’s index for containerized Taiwanese imports of HMS # 1&2 80:20
fell US$10/t this week to US$233/tonne CFR Taiwan port. Negative
sentiment is prevalent amongst mills as high inventories of scrap
combined with poor domestic demand leaves little to be optimistic
about. Trades from the US East coast were concluded into Korea this
week at far lower levels than seen at the end of January on the back of
drastic price falls in the US domestic market. With the Lunar new year
holiday approaching a slowdown in ferrous markets is anticipated and it
will be interesting to see the level at which the market settles once
normal trading resumes.
- TSI’s containerized shredded index for Indian imports fell US$13/t to
US$307/tonne CFR Nhava Sheva port. With global scrap prices falling
across the board, led by a capitulation in the US market, India was all
too happy to follow suit. Trade was once again thin as cheaper local
scrap and billets from China and Russia continued to provide a lower
cost route to finished steel. Scant domestic demand in India has been a
major driver for the negative market sentiment currently prevalent and it
now seems all eyes on the budget presented on the 28th of this month.
TSI Benchmark Scrap Prices (US$/tonne)
Turkish Imports (CFR Marmara Port, Turkey) 1-week change 4-week change Low* High*
A3, short-sea (US$/tonne) 236 44 -15.7% 67 -22.1% 236 367
Turkish Imports (CFR Iskenderun Port, Turkey)
Shredded, deep-sea (US$/tonne) 265 23 -8.0% 60 -18.5% 265 393
Plate and Structural, deep-sea (US$/tonne) 260 33 -11.3% 69 -21.0% 260 399
*past 12 months

2. TSI Average Monthly Scrap Prices
Scrap – Steel Spreads
Average Monthly Scrap Spreads (US$/metric tonne)
Scrap Derivatives and News Headlines
© The Steel Index 2015
Aug Sep Oct Nov Dec Jan Feb MTD
Turkish Imports: HMS 1/2 80:20, deep-sea (US$/tonne) 385.35 374.09 336.04 309.15 313.67 311.90 256.60
USA: Shredded (US$/long ton) 382.00 379.00 354.25 330.00 336.00 334.25 257.00
Taiwanese Imports: HMS 1/2 80:20 [containerized] (US$/tonne) 350.00 333.20 298.75 288.25 283.20 255.25 233.00
Indian Imports: Shredded [containerized] (US$/tonne) 389.25 389.80 361.75 335.75 324.40 325.75 307.00
Turkish Imports: A3, short-sea (US$/tonne) 365.50 353.80 321.00 296.00 297.20 296.75 236.00
Turkish Imports: Shredded, deep-sea (US$/tonne) 390.25 373.80 337.75 313.50 319.00 312.50 265.00
Turkish Imports: Plate and Structural, deep-sea (US$/tonne) 396.25 378.40 342.50 317.00 323.00 317.00 260.00
Spread: US Shredded Scrap to US HRC (US$/metric tonne) Spreads: Turkish scrap imports to billet and rebar (US$/tonne)
Aug Sep Oct Nov Dec Jan Feb MTD
US HRC - US shredded scrap 371.95 361.98 367.61 384.33 350.33 314.41 349.80
Black Sea Billet Exports - Turkish HMS 1/2 80:20 scrap imports 129.40 125.91 132.21 123.60 84.53 81.85 n/a
Turkish Rebar - Turkish HMS 1/2 80:20 scrap imports 185.40 195.71 206.96 199.35 178.73 186.35 n/a
Scrap Prices and Forward Curve for Turkish Imports (US$/tonne) Platts Top Scrap News Headlines
February 06, 2015
- Scrap markets join the ‘historic low’ party
- Chinese rebar export prices drop further but at slower rate
- Scrap uncertainty keeps European rebar unchanged
© Platts 2015

3. Additional Scrap Market Data
© The Steel Index 2015
Turkish Imports by Origin (million tonnes) US Scrap Exports by Destination (million tonnes)
Indicative Freight Rates to Turkey (US$/tonne) Indicative Freight Rates to Asia (US$/tonne)
US Steel Mill Capacity Utilisation Rates Scrap – Iron Ore Fe Ratio

4. Exchange Rates
© The Steel Index 2015
Turkish Lira/US$ Exchange Rate Indian Rupee/US$ Exchange Rate
TSI Scrap Reference Product Specifications
Turkish Imports
Material: Heavy Melt Scrap (HMS) 1 & 2, blended in an 80:20 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap ¼” and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8” and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
Pricing Point: CFR Iskenderun port, Turkey
Minimum lot size: 5,000 metric tonnes. 1,000 metric tonnes as part of a mixed cargo.
Timing: Loading within 30 working days
Payment: Cash/LOC
Currency/Units: US$ per metric tonne
US Domestic
Material: Shredded obsolete scrap. ISRI codes 210-212 inclusive. Homogenous iron and steel scrap, magnetically separated.
Originating from automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 60
(50-70) pounds per cubic foot.
Pricing Point: Delivered US Midwest mill (Ohio, Illinois, Indiana and bordering vicinities)
Minimum lot size: 1,000 long tons
Timing: Delivery within 30 working days
Payment: Cash/LOC
Currency/Units: US$ per long ton
Taiwanese Imports (Containerised)
Material: Heavy Melt Scrap (HMS) 1 & 2, blended in an 80:20 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap ¼” and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8” and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
Pricing Point: CFR Kaohsiung Port, Taiwan
Minimum lot size: 200 metric tonnes
Transport: 20 foot shipping container
Timing: Loading within 30 working days
Payment: Cash/LOC
Currency/Units: US$ per metric tonne
Indian Imports (Containerised)
Material: Shredded obsolete scrap. ISRI codes 210-212 inclusive. Homogenous iron and steel scrap, magnetically separated.
Originating from automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 60
(50-70) pounds per cubic foot.
Pricing Point: CFR Nhava Sheva port, India (West Coast)
Minimum lot size: 200 metric tonnes
Transport: 20 foot shipping container
Timing: Loading within 30 working days
Payment: Cash/LOC
Currency/Units: US$ per metric tonne

5. Contact The Steel Index
Sources: Platts, Freight Investor Services (FIS), Turk Stat.
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© The Steel Index 2015
Transactions for the following specifications are normalised to the relevant reference product
Turkish Imports
Material: Heavy Melt Scrap (HMS) 1 & 2, blended in an 70:30 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap ¼” and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8” and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
Material: Heavy Melt Scrap (HMS) 1 & 2, blended in an 90:10 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap ¼” and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8” and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
Material: Shredded obsolete scrap. ISRI codes 210-212 inclusive. Homogenous iron and steel scrap, magnetically separated.
Originating from automobiles, unprepared no.1 & no. 2 steel, miscellaneous baling and sheet scrap. Average density 60 (50-
70) pounds per cubic foot.
Material: Plate and Stuctural. ISRI codes 231, 232, 236 & 237. Cut structural and plate scrap, not less than ¼” in thickness, 5' in
length and under, less than 24” in width. Phosphorus or sulphur not over 0.05%.
Material: Russian A3 scrap. Wrought iron and steel scrap ¼” and over in thickness
Material: Bonus grade scrap. ISRI codes 229, 230, 231, 232, 233, 236, 237, 238, 241, 249 and/or IRSI railroad ferrous scrap.
Minimum lot sizes:
Deep-sea: 5,000 metric tonnes (1,000 metric tonnes as part of a mixed cargo)
Short-sea: 1,000 metric tonnes
Bonus Grade: 1,000 metric tonnes (as part of a mixed cargo)
US Domestic
Material: Heavy Melt Scrap Number 1 (HMS). ISRI codes 200-202 inclusive. HMS1 wrought iron and steel scrap ¼” and over in
thickness, not over 60 inches x 18 inches, prepared in a manner to ensure compact charging.
Material: Plate and Structural ISRI codes 231, 232, 236 & 237. Cut structural and plate scrap, not less than ¼” in thickness, 5' in
length and under, less than 24” in width. Phosphorus or sulphur not over 0.05%.
Indian Imports (Containerised)
Material: Shredded obsolete scrap. ISRI code 210. Homogenous iron and steel scrap, magnetically separated. Originating from
automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 50 pounds per cubic
foot.
Material: Shredded obsolete scrap. ISRI code 211. Homogenous iron and steel scrap, magnetically separated. Originating from
automobiles, unprepared No.1 and No.2 steel, miscellaneous baling and sheet scrap. Average density 70 pounds per cubic
foot.
Material: Heavy Melt Scrap (HMS) 1 & 2, blended in an 80:20 Mix. ISRI codes 200-206 inclusive. HMS1 wrought iron and steel
scrap ¼” and over in thickness. HMS2 wrought iron and steel scrap, black and galvanised 1/8” and over in thickness.
Grades 205 and 206 to exclude cast iron and thin gauge materials.
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