DAILY STEEL SCRAP: Turkish mills slow their buying as lira, domestic sales soften

Turkish steel producers have slowed down their deep-sea scrap purchasing, after the domestic long steel market was affected by the weakening of the country’s lira, sources said on Tuesday August 11.

Mills in Turkey booked a number of cargoes last week, with the most recent transactions for material from the US and Baltic Sea at $285 per tonne cfr for HMS 1&2 (80:20).
But the mills then paused their buying activity after the domestic long steel market was shaken by the currency downturn.

The Turkish lira has lost ground against the US dollar and was trading at 7.328 lira to $1 on August 11, compared with 6.979 lira to $1 on August 4,...

Published

Cem Turken

August 11, 2020

16:02 GMT

Mugla