Turkish steel mills extended their absence from the deep-sea scrap market on persistently poor demand for finished steel and with no recovery in sight, sources told Fastmarkets on Thursday November 29.
After booking three deep-sea cargoes from the United States and the United Kingdom at the end of the last week, steel mills in Turkey paused their buying activity because of the sluggish demand for finished steel and the downturn in Asian steel prices."The collapse in [steel prices in] Asia has continued, which is sending steel and scrap prices...