The Turkish deep-sea scrap market remained silent again on Tuesday October 16, with volumes of billet being purchased instead of scrap, according to market participants.
Appetite for scrap has been falling and demand remains low, with reports of mills choosing to purchase billet instead. Turkish domestic billet prices have been on a general downtrend since September 13.Many Turkish steel mills have both furnaces and rolling mills, allowing them to choose to melt scrap or to re-roll billet. Re-rolling has the benefit of being less energy-intensive than melting scrap...