Turkish scrap purchases down in November

  • Date: 01-Dec-2021
  • Source: Argus Media
  • Sector:Oil & Gas
  • Country:UAE
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Turkish scrap purchases down in November

London, 1 December (Argus) — Turkish ferrous scrap importers' purchases of deep-sea cargoes fell slightly in November from October as a weaker domestic steel market weighed on scrap demand.

A fall in Turkish domestic steel trading as the lira weakened throughout November slightly dampened Turkish mill demand for scrap cargoes, and there was no significant increase in rebar export activity to compensate.

Overseas billet prices also became attractive to Turkish mills in November compared with October and billet may have been substituted for some scrap imports after CIS, Indian and UAE material was offered at lower prices from the beginning of the month.