DAILY SCRAP REPORT: Mills look for lower prices but suppliers hold firm

March 03, 2020 / www.metalbulletin.com / Article Link

The Turkish steel producers have extended their absence from the deep-sea scrap markets in expectation of lower prices, but suppliers were holding firm, sources said on Monday March 2.

After buying several cargoes in the first three weeks of February, the mills stepped back from purchase activity at the beginning of last week.
The most recent deep-sea transactions had put the price of HMS 1&2 (80:20) around $280 per tonne cfr, but the Turkish mills were now looking for prices around $270 per tonne cfr, according to the sources.

But suppliers, especially those in the United States, did not want to lower their export offers because they had firm demand in...

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