DAILY STEEL SCRAP: Turkish mills focus on steel sales, prices stay firm

The Turkish steel mills have continued to hold back from deep-sea scrap purchasing activity and kept their focus on steel sales, market participants told Fastmarkets on Wednesday March 3.

The latest transaction was recorded late on February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20), which raised the daily scrap index for US-origin material by $3.33 per tonne on March 1.
The steel mills then went quiet in the deep-sea markets and shifted their focus to finished steel sales, with the increase in scrap costs reaching $24 per tonne in a week.

Published

Cem Turken

March 03, 2021

17:30 GMT

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