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12 Jul

Sentiment weakens further in Turkish scrap market

Most Turkish mills have further increased their domestic scrap buying prices since last week while halting imported scrap purchases. However, activity in the domestic scrap market also came to a halt on Wednesday, following Kardemir's announcement of a $40/tonne decrease in billet prices and $25/t decrease in wire rod prices. Kardemir's unexpected sharp price decline has increased the pressure on imported scrap prices. Turkish mills, who were already …
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