STEEL SCRAP WRAP: Global markets slip as Turkey stalemate continues
The effect of the absence of Turkish steel mills from the international scrap market was evident in tepid trading and weakening prices in the week to Friday September 18, with fears of an imminent market correction.
- Turkey continues to hold back from booking new cargoes
- US market remains quiet on possible correction
- Vietnam books large volumes at lower prices
- Taiwan’s upward trend comes to a halt
- India reports lower prices on negative sentiment.
The Turkish steel mills remained firmly out of the deep-sea scrap markets this week, with no purchases made over the period