DAILY STEEL SCRAP: Mills likely to resume bookings soon, prices may climb

November 11, 2020 / www.metalbulletin.com / Article Link

The Turkish steel mills remained out of the deep-sea scrap markets on the second working day of the current week, but were expected to resume their bookings with support from fresh rebar export sales, sources said on Tuesday November 10.

Turkish steelmakers booked 11 deep-sea cargoes last week but stepped away from the market at the beginning of this week, when the exchange-rate value of the country's lira moved sharply upward.
The Turkish currency rebounded on Monday after news broke of the resignation of Turkey's economy minister and the replacement of the central bank governor over the weekend.

The Turkish lira was trading at 8.535 lira...

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