Turkish steel billet prices have advanced over the past week due to rising imported scrap costs, market participants told Fastmarkets on Thursday March 4.
The latest deep-sea scrap transaction was recorded late on February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20). This raised the daily scrap index for US-origin material - which tends to reflect Baltic Sea prices more closely than the Northern Europe index - by $3.33 per tonne on March 1.Fastmarkets'...