DAILY STEEL SCRAP: Mills stay away from deep-sea markets amid price rises

Turkish steel producers have continued to hold back from further deep-sea scrap purchases because of increasing prices, sources said on Tuesday December 1.

The mills booked at least 10 deep-sea cargoes last week, and have since stepped back from the deep-sea markets.
But market participants still expected them to book more cargoes, thanks to good demand for finished steel and billet, and improving prices.

“The Turkish producers have been selling some good long steel and billet tonnages recently, which supported the price increases,” a Turkish mill source said. “A steel mill in the Izmir region sold...


Cem Turken

December 01, 2020

16:57 GMT