Holidays in Turkey and across much of Europe for the traditional May 1 Labor Day meant that there was no change in prices for Turkish imports of deep-sea scrap from European and US suppliers, sources said on Tuesday May 1.
Renewed business activity is expected later in the week when traders return to work, they added.Market sentiment is cautious about how much more prices may increase in the near term, if the recent rally in the market should persist. Turkish steel producers booked more deep-sea scrap for May at the end of last week, with prices edging higher after a bounce from Thursday.The market had been falling steadily until Wednesday last week, from a near-annual high in late March. But...