The Turkish steel producers have entered a third consecutive week with no deep-sea scrap bookings due to the still-weak finished markets for long steel products, sources said on Monday August 24.
After booking some US and Baltic Sea cargoes at $285 per tonne cfr for HMS 1&2 (80:20) on August 7, the steel mills in Turkey went quiet in the deep-sea scrap import markets.In the past two weeks, the Turkish currency has lost some ground against the US dollar, which pushed up domestic rebar and wire rod prices and...