Turkish steel producers remained quiet in the deep-sea scrap markets, awaiting some signs of recovery in the finished steel sector, sources said on Tuesday July 16.
The last verified scrap deal was on July 9 when a steel mill in the Iskenderun region booked a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20).Since then, Turkish steel mills have stayed away from the deep-sea markets despite still needing to book more cargoes for August deliveries.The main reason for the slowdown in deep-sea scrap purchasing has been weak demand for finished steel, sources...