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11 Jun

Turkish mills question justification for higher scrap quotes

Activity in Turkey’s scrap market remains subdued so far this week although there were still some mills inquiring about scrap on Tuesday. Suppliers are seen remaining firm with their offer prices, which are well above Turkish mills’ targeted levels. A US supplier is seeking around $390/tonne cfr Turkey for HMS 1&2 90:10, despite the decline in US domestic prices during June trading. Although US scrap dealers resisted heavily against US mills&rsquo…
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