Turkish steel mills went quiet in the deep-sea scrap markets after the latest downturn in prices, with activity in the long steel market still slow, market participants told Fastmarkets on Wednesday March 10.
Three US cargoes had been booked by two Turkish steelmakers, on Saturday and late on Monday, at around $453-456 per tonne cfr on HMS 1&2 (80:20) basis, sending daily scrap indices down by almost $6 per tonne on March 9.However, the buying spree failed to last, due to the...