DAILY STEEL SCRAP: Weak long steel demand keeps mills away from scrap purchases

The Turkish steel producers have continued to stay away from the deep-sea scrap markets due to weak demand for their finished long steel products, sources told Fastmarkets on Tuesday August 18.

Turkish steel mills paused their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) reached $285 per tonne cfr for US- and Baltic Sea-origin material.
The poor demand for long steel was the main reason for the mills' reticence, while scrap stock levels at the mills' yards was also good, sources told Fastmarkets.

"The mortgage incentive scheme -...

Another 'Bubble Check' for the gold sector

Gold stocks continue to hit new highs

Some mining stocks exposed to Burkina Faso take major hit

Gold stocks again hit new highs

Gold stocks reach new highs on metal price gain