The Turkish deep-sea scrap markets remained silent at the end of the week because there was no demand in the United States for Turkey-origin finished steel materials, sources said on Friday May 31.
Turkish steel producers had resumed their deep-sea scrap purchases at the end of the last week for a short-lived buying spree, after the US reduced its import duty on Turkey-origin products to the pre-existing Section 232 import tariff of 25%.The mills expected to resume their long steel exports to US after that decision, but sluggish demand and competitive domestic steel prices in the US wrecked those hopes, Fastmarkets was...