DAILY SCRAP REPORT: Turkish mills wait to see effect of interest rate change

Turkish steel producers paused their deep-sea scrap purchases on Thursday September 13 to see where the exchange rate value of the country’s lira will settle, following a decision by its central bank to raise interest rates.

Steel mills in Turkey have booked five deep-sea cargoes so far this week, totaling more than 140,000 tonnes. Market participants said that the mills would continue to book deep-sea scrap, because they have sold a good quantity of billet in recent weeks. But the market was mainly focused...


Cem Turken

September 13, 2018

16:27 GMT