DAILY SCRAP REPORT: Turkish market silent to await court decision

The Turkish deep-sea scrap market remained quiet on Friday October 12, with market participants in the country focusing their attention on the court decision in the pastor Andrew Brunson case.

Turkey’s steel and scrap markets are strongly connected to the lira-dollar exchange rate, because mills buy their raw materials in dollar-denominated deals and sell finished goods for lira in local market. And the value of the lira has been depressed recently by the political tensions between Turkey and the United States. Much of this had concerned Turkey’s detention of American evangelical pastor Andrew Brunson...

Published

Cem Turken

October 12, 2018

16:10 GMT

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