Turkish scrap import prices have been falling since the start of the month, albeit at a slower pace.
Market participants said low demand for long steel products, particularly in Turkey’s domestic market, was the main reason for the slide.
Another factor was understood to be the weakening of the Turkish lira, with the national currency losing 7% of its value against the dollar since the start of the year, according to Oanda.com, as a result of the country’s internal political problems.
Traders said they were “shocked” with the falls in the import scrap prices this week, as they...
