DAILY SCRAP REPORT: Deep-sea scrap lull continues as market awaits confirmation of US rebar import price
The Turkish deep-sea scrap market remained quiet on Tuesday May 21, while steel mills continued to negotiate rebar sales to the United States and scrap merchants awaited signs of a clearer market direction.
The US reduced its tariff on steel imports from Turkey to 25%, from 50%, on May 17
, bringing the country back in line with other prospective suppliers to the US market.
Following the news, scrap suppliers pulled their existing offers, hoping to see a rise in prices.