28
May
17:15
Turkish scrap falls sharply on fresh US deal
Turkish imported scrap prices are under pressure due to the large number of offers in the market coupled with the unwillingness of Turkish mills to place orders. However, a fall was not officially confirmed until a fresh US scrap cargo was booked on Friday.
A long steel producer in Marmara is heard to have bought HMS 1&2 80:20 at $502/tonne and shredded at $512/t cfr Turkey, for July shipment.
The same mill is now heard bidding at below $500/t cfr for Baltic…
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Anonymous
Very good overview of the weekly steel market.
Anonymous