DAILY SCRAP REPORT: Turkish market starts to feel effects of coronavirus outbreak

The Turkish steel mills continued to hold back from deep-sea scrap purchases on Monday February 3, expecting lower prices to emerge, sources told Fastmarkets.

The daily scrap indices went down by almost $10 per tonne on January 29, when a US cargo was heard sold at $275 per tonne cfr for HMS 1&2 (90:10).
That was the sole cargo sold last week, with mills seeking even lower prices because they were struggling with sluggish markets for both rebar and billet.

A Baltic Sea supplier was heard last week offering a cargo at $270 per tonne cfr for HMS 1&2 (80:20), but this was not accepted by any steel mill....

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