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28 May

Market sees Turkish scrap prices bottoming

Most market participants in Turkey do not expect scrap prices to fall further despite Turkish mills’ continuing pressure on prices. The latest scrap deal into Turkey was confirmed from the EU at $374/tonne cfr Turkey for HMS 1&2 80:20 and $399/t cfr for shredded and bonus at the end of last week. This was $2/t higher compared to the previous EU-origin deal concluded last week. Although the market has been quiet in recent days, scrap suppliers expect dem…
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