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28 Feb

Turkish imported scrap bubble bursts, domestic prices flat

Most Turkish mills have kept their domestic scrap buying prices unchanged since last week, while imported scrap values slumped on a fresh deal concluded from the US, Kallanish notes. A western Turkish long steel mill bought a US-origin cargo at average $415/tonne cfr Turkey for 18,000 tonnes of shredded and 12,000t of bonus grade on Tuesday. With this booking, scrap prices in Turkey have officially fallen below the $400/t cfr threshold – even to $395/t …
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