DAILY SCRAP REPORT: Currency fluctuations keep mills out of deep-sea markets

Turkish steel producers went quiet again on Tuesday August 7 after a sharp decline in the exchange value of the country’s currency.

The mills in the country booked four deep-sea cargoes from various sources late on August 3, totaling 135,000 tonnes, and prices have gone down further by around $2-4 per tonne. But after the country’s currency suffered its biggest daily fall for nearly ten years, the steel mills completely stepped out of the scrap markets and went into wait-and-see mode. “The market is completely quiet...

Published

Cem Turken

August 07, 2018

16:20 GMT

Mugla