DAILY STEEL SCRAP: Mills step back from deep-sea markets, resisting higher prices

Turkish steel producers went quiet in the deep-sea scrap markets once again on Thursday October 15 after the recent slight upturn in prices.

The most recent cargo from the US marked the HMS 1&2 (80:20) price at $287 per tonne cfr on Wednesday October 14, compared with the previous US cargo sold at $285 per tonne on the same basis.
But the prices of downstream rebar and billet exports were down in the latest deals and mills stepped back from the deep-sea scrap purchases as a result of the lower margins, according to the sources.

“The market...


Cem Turken

October 15, 2020

15:16 GMT