22
Jul
15:13
Turkish mills halt scrap purchases, price pressure intensifies
Amid poor steel demand, bearish sentiment and a more-than-sufficient number of scrap offers in the market, Turkish mills were not rushing to conclude scrap purchases on Friday. The lack of buying interest is increasing the pressure on suppliers.
The rumour of a Canadian deal at $393/tonne cfr Turkey for shredded and $380/t cfr for HMS 1&2 95:5 was not confirmed by Friday deadline. While some market participants say the cargo was sold at a price where HMS 1&…
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Anonymous
Very good overview of the weekly steel market.
Anonymous