DAILY SCRAP REPORT: Mills stay away from deep-sea bookings, prices flat

Turkish steel mills have continued to stay away from the deep-sea scrap markets to try to keep pressure on prices, sources said on Thursday February 27.

After a buying spree in the past three weeks, the mills stopped their deep-sea purchases at the beginning of this week.
The mills were very active in the deep-sea scrap markets in the period from February 4-24, booking at least 22 cargoes totaling more than 700,000 tonnes. As a result, scrap import prices into Turkey have been climbing since the beginning of the month.

The most recent cargoes sold...

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps