DAILY SCRAP REPORT: Mills retreat from market on increasing political tensions

The Turkish steel mills have fallen quiet in the deep-sea scrap markets following political developments that have raised concerns in the market, sources said on Thursday October 10.

The most recent confirmed transaction was done from the United States on October 9. A Turkish steel producer booked a cargo comprising 23,000 tonnes of HMS 1&2 (80:20) at $233 per tonne and 17,000 tonnes of shredded at $238 per tonne cfr. The transaction raised the daily scrap indices by more than $6 per tonne on October 9. But a Turkish military operation in northern Syria quietened the market yesterday. Some market participants had been expecting the US to consider replacing...

Published

Cem Turken

October 10, 2019

17:48 GMT

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