DAILY SCRAP REPORT: Ramadan effect, weak rebar demand keep Turkish mills away

Turkish steel producers have continued their silence in the deep-sea scrap markets amid high prices and weak demand for finished steel in their export markets. And the approaching Islamic holy month of Ramadan was also expected to reduce demand for both finished steel and raw materials, sources said on Friday May 11.

Although the mills in Turkey were expected to book more cargoes for May deliveries, they slowed down their deep-sea bookings after an increase in offer prices. Scrap stocks at the mills were low but they were not willing to build up stocks before seeing any renewed demand for...


Cem Turken

May 11, 2018

16:00 GMT