22
Oct
16:03
Turkish scrap market slows on bearish sentiment
Demand for scrap in the Turkish market remained limited last week. This was the result of low export demand for rebar and sentiment turning bearish following Turkey’s Central Bank’s loan rate cut on Thursday. This has caused the lira to weaken sharply to a historical low against the dollar.
The latest scrap booking was concluded at $505/tonne cfr Turkey from Venezuela for HMS 1&2 80:20.
Suppliers are seen targeting prices at above $510/t for premi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous