DAILY STEEL SCRAP: Turkish mills stay on sidelines awaiting outcome of US presidential election

Turkish steel mills continued to stay away from the deep-sea scrap market amid growing uncertainty over the potential impact of the presidential election in the United States, sources said on Tuesday November 3.

Mills in Turkey have been silent in the deep-sea scrap markets since the middle of last week after booking number of cargoes.
Most market participants were waiting to see what impact the presidential election might have on US scrap exports.
"The market is pretty silent at the moment. Everybody is waiting for the election results," a Turkish mill source told Fastmarkets. "The results will shape the price trend in the US domestic scrap market, which will directly affect export prices."

"If the scrap supply is directed to the domestic market in the...

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