The Turkish steel mills prefer to stay out of the deep-sea scrap market for a second consecutive week this week because of the approach of the Islamic holy month of Ramadan and the current low demand for their finished steel products, sources said on Monday May 14.
The mills booked a number of deep-sea cargoes in the week before last, and are still expected to buy more scrap for delivery in May. But they then went quiet and no significant deep-sea trading has been heard since.Scrap stocks at mills were also reported to be...