Price Assessment

Turkish scrap -- Platts TSI HMS 1/2 80:20

  • What is the Platts TSI HMS 1/2 80:20?
  • How Platts assesses Turkish scrap imports
  • Evolution of Turkish scrap import assessment

What is the Platts TSI HMS 1/2 80:20?

The Platts TSI Heavy Melting Scrap 1/2 80:20 (TS01011) price assessment reflects the tradeable value of bulk ferrous scrap imports into Turkey from all supply regions. These supply regions are predominantly the US, UK, Benelux, Baltics.
The assessment values HMS 1/2, blended in an 80:20 mix. This covers ISRI codes 200-206 inclusive. Other grades ferrous scrap can be normalized to HMS 1/2 80:20. These include: shredded, plate and structural, HMS1, HMS 1/2 75:25 and bonus.

The minimum lot size reflected in the assessment is 10,000 mt.

Platts reflects cargo for delivery three to eight weeks ahead of the publication date.

How Platts assesses Turkish scrap imports

The Platts TSI HMS 1/2 80:20 assessment is published in US dollars on a per metric tonne basis. The assessment is timestamped to 4.30 pm UK time.

Trade, bid and offer information is captured from active market participants across the supply chain.

Data is normalized to reflect premium HMS 1/2 80:20. All other grades are normalized back to this grade based on prevailing market differentials.

The normalization procedure is carried out using observed market trade differentials between premium HMS 1/2 80:20 and other grades from major supply regions.

Platts assesses the market on a CFR Turkey basis rather than normalizing to any single terminal or port. This is due to the consistency in demand between the three major steelmaking clusters in Turkey.

Evolution of Turkish scrap import assessment

Platts started assessing the Turkish scrap import market in 2008. In September 2017, Platts merged its two price series covering HMS 1/2 80:20 to form a single, robust benchmark.

The merger of these two price series saw both prices published as the same value each day, following the same methodology and drawing on best practices from both approaches.

Platts assessment of Turkish scrap imports is the basis for settlement of several financial derivatives whose trade liquidity has grown significantly in the last few years.

As the market continued to evolve, Platts began to assess several other grades imported by Turkey's steelmakers.

These assessments are published daily in Platts Steel Markets Daily publication and via realtime service Platts Metals Alert.

Evolution of Turkish scrap import assessment

Methodology and Specifications


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