Turkish steelmakers continued to stay back from the deep-sea scrap markets because of falling prices and increasing supply, market sources said on Thursday March 11.
Two Turkish steelmakers booked US cargoes last Saturday and late on Monday at $453-456 per tonne cfr on an HMS 1&2 (80:20) basis, sending the daily scrap indices down by $5.79 per tonne on March 9.But booking activity did not continue, because supply was increasing and market participants expected prices...