The Turkish steel mills extended their silence in the deep-sea scrap markets while the lira weakened further amid sluggish demand for finished steel, sources said on Wednesday May 23.
The lira continued to lose value against the US dollar due to the political uncertainty in the Middle Eastern country created by the calling of early elections.And it slid to a new historic low on Wednesday following a statement from credit rating agency Fitch on May 22."Comments from the Turkish president raise the possibility that discretionary policymaking and policy predictability will come under pressure after June's elections," Fitch said in a press release.Speaking to investors, Turkish President Recep...