DAILY SCRAP REPORT: Mills stuck between weak rebar markets, firm scrap costs

Turkish steel producers continued to hold back from the deep-sea scrap markets on the second day of the working week because of the soft rebar market and firm scrap prices, sources said on Tuesday January 14.

The country’s steel producers went through last week with only one deep-sea cargo bought, when a steel mill in the Marmara region booked a European cargo at an average price of $300 per tonne cfr for 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 15,000 tonnes of bonus.

The mills were struggling to cover scrap costs with current rebar prices. The margin between rebar and scrap has...

Published

Cem Turken

January 14, 2020

16:10 GMT

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