Turkish steel mills continued to stay out of the deep-sea scrap market on continuing weak demand for steel, despite the increasing availability of supplies, especially from the Baltic Sea, sources told Fastmarkets on Thursday March 18.
The most recent deep-sea bookings were done at the end of last week, when two Baltic Sea cargoes were sold at $435-437 per tonne cfr on a heavy melting scrap 1&2 (80:20) basis. Since then, the mills have stepped back from deep-sea bookings due to limited demand for steel.Sources have told Fastmarkets...