Turkish steel producers have continued to stay back from the deep-sea scrap markets due to sluggish demand for finished steel and the firmness of the offers from scrap merchants, sources said on Wednesday March 20.
Offers for HMS 1&2 (80:20) grade material from the United States remained at $330 per tonne cfr, but mills were not willing to pay such high prices, Fastmarkets was told.Besides, the weak finished steel demand in the country's export and domestic markets was also dissuading mills from purchasing scrap.Demand in the local...