Friday, April 08,
Slight changes were noticed in International scrap prices this week but market players expected prices to fall soon as demand from top importer Turkey remained poor.*
Steel scrap was heard being sold at $440-450/MT cost-and-freight Turkey this week, similar to last week, when it fell $5-15/MT. Turkish steel producers struggle to sell rebar, giving a prompt indication that market might foresee further price fall in the next few weeks.
Comments by Traders: “I expect prices to go down. The Turkish mills will not be buying, they are not selling rebar. Why would they pay the same price for scrap?”
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