Dramatic lira decline keeps Turkish mills away from deep-sea scrap markets

Turkish steel mills remained quiet in deep-sea scrap import markets amid a depreciation of the country's currency and limited demand for finished long steel product, sources told Fastmarkets on Wednesday November 17.

Mills booked three deep-sea cargoes for December shipment at the beginning of the week.
A steel mill in the Marmara region booked a United Kingdom cargo at $490 per tonne and a Baltic Sea cargo at $494.50 per tonne cfr on a HMS 1&2 (80:20) basis.
Another steel mill in the same region booked a United States cargo at $500 per tonne cfr on the same basis.

However, the steelmakers in the...

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