STEEL SCRAP WRAP: Global price increases stop as Turkish mills hold back

Turkish steel mills held back from the deep-sea scrap markets this week amid limited long steel demand in the country’s export and domestic markets. And the slowdown in Turkey stopped global scrap prices increasing further.

  • Turkish steel mills focused on finished steel sales instead of scrap purchases
  • Recent sales to Turkey and Bangladesh kept US export markets firm
  • Weak steel markets in Vietnam cooled off scrap price rises
  • Taiwanese buyers turn to US scrap with Japan on holiday
  • Firm demand and limited supply drive Indian scrap import prices upward.

Turkey
The Turkish steel producers ended the working week on Friday August 14 with no purchases of deep-sea scrap, having focused on finished long steel sales instead.

The steel mills in the country have...

Published

Cem Turken

Maria Tanatar

Lee Allen

Paul Lim

August 14, 2020

16:52 GMT

London, Singapore, Mugla, Pittsburgh