DAILY STEEL SCRAP: Prices fall in silent deep sea market, further falls expected next week

Turkish steelmakers continued to hold back from deep-sea scrap purchases at the end of the week, due to poor sales of finished long steel and billet, sources said on Friday January 22.

After the most recent deep-sea transaction heard on January 20, at $440 per tonne cfr on an HMS 1&2 (80:20) basis, Turkish steel producers stepped back from the markets.
The transaction on Wednesday pushed the daily scrap indices down by more than $12 per tonne that day.
The daily scrap indices have gone down by $42 per tonne since January 14.

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