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Stronger scrap prices push Turkish long steel prices up

March 27, 2014 - 15:53 GMT Location: Bursa

KEYWORDS: rebar prices , wire rod prices , merchant bar prices , Turkey , Yemen , Iraq , UAE

Long steel prices in Turkey have risen on higher scrap costs this week but the market has been generally slow before the country’s mayoral elections, sources said on Thursday March 27.

The domestic market was becoming quieter before the elections on March 30 as most market participants were waiting for a clearer political situation to emerge before they started buying material. Some 10,000 tonnes of rebar were sold to Iraq earlier this week at $583-584 per tonne ex-works but there have been no significant sales in the domestic market this week, a source at a steel...

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