The US ferrous scrap export market has been locked in a holding pattern since overseas buyers retreated to the sidelines over the past week following a flurry of activity earlier this month.
Interest in the deep-sea market from Turkey, the biggest buyer of US ferrous scrap, has died down amid reports that the country's long steel demand has been affected by a weakening Turkish lira and a strengthening US dollar. This has made US ferrous scrap more expensive to buy for Turkish mills.The Turkish currency was trading at 7.38 lira per $1...