DAILY SCRAP REPORT: Market getting tougher for buyers and sellers

April 16, 2020 / www.metalbulletin.com / Article Link

The Turkish deep-sea scrap import market has gone quiet again after the recent upturn, with material supply being limited, while buyers were struggling with weak demand for finished steel, sources said on Wednesday April 15.

The daily scrap indices went up by more than $15 per tonne on Tuesday, after deals for United States- and Baltic Sea-origin cargoes were heard at $255-257 per tonne cfr for HMS 1&2 (80:20).
But the mills were struggling to sell rebar to their local markets due to increasing prices, caused by the rising scrap costs and weakening lira.

The Turkish lira continued to lose ground against the US dollar due to the effects of the Covid-19 pandemic, declining to 6.80 lira to $1 at the time...

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