Turkish steel producers stayed out of the ferrous scrap market this past week, with no deep-sea bookings amid limited steel demand and increased supply of scrap, especially from the Baltic Sea, market participants told Fastmarkets on Friday March 19.
After booking two deep-sea scrap cargoes from the Baltic Sea at the end of the last week at $435-437 per tonne cfr, basis an 80:20 mix of No1 and No2 heavy melting scrap, mills halted scrap bookings.Supply from the Baltic sea region, meanwhile, increased throughout...