28
Oct
15:35
US deal fails to lift Turkish scrap prices
Turkish scrap prices continue to remain under pressure despite a US deal being concluded at above $360/tonne cfr Turkey.
A US deal was done at $363.5/t cfr for HMS 1&2 80:20 and $381.5/t cfr for bonus grade earlier last week, as previously reported by Kallanish.
The majority of Turkish mills, however, do not find this price level workable amid high production costs and decreasing steel prices, and therefore continue to halt purchases.
“Rebar is at $650…
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Anonymous
Very good overview of the weekly steel market.
Anonymous