23
Nov
15:08
Turkish mills halt scrap purchases amid plummeting lira
Turkish mills have had a slow start to the week in terms of their scrap purchases due to rising instability amid the fast depreciation of the lira.
This depreciation accelerated on Tuesday when the lira devalued 17% in one day to 13.49 per dollar, a new record low.
Turkish mills continued to remain reluctant to buy scrap despite their ongoing needs. The unstable economic situation and lack of confidence are preventing them from buying scrap as they cannot foresee…
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Anonymous
Very good overview of the weekly steel market.
Anonymous