Steelmakers in Turkey stepped back from deep-sea purchases on Monday November 9, after the value of the Turkish lira increased by just under 4% in one day, sources told Fastmarkets.
Turkish steelmakers booked eleven deep-sea cargoes last week.However, the Turkish currency rebounded sharply after the news of the resignation of Turkey's economy minister and the replacement of the central bank governor.Berat Albayrak, who is also son-in-low of president Recep Tayyip Erdogan, shocked the country by announcing his resignation on Sunday. The decision came one day after the Turkish president replaced the central...