Turkey has maintained steady but modest ferrous scrap purchases from suppliers in the United States but has been dealt a blow by Egypt on the steel front.
Egypt has imposed a duties of 25% on imports of rebar and 3-15% on billet imports from Turkey effective Monday April 15. Turkey is also subject to quotas in the European Union and tariffs in the US.Rebar producers are still finding customers, putting prices in Turkey at approximately $480-485 per tonne fob.There have been two sales to Turkey over the past week, both of which helped to improve US export prices.The most recent deal was on April 16, with an East Coast exporter selling 18,000 tonnes of an 80:20 mix of No1 and...