Thursday, March 31,
The world’s top consumer of steel scrap Turkey traders quoted prices for its steel scrap imports at $440-450 per tonne cost-and-freight (CFR) Turkey this week, down from $455-465 two weeks ago.*
Steel scrap is a key raw material for steel long products such as billet and rebars used in construction, and Turkey’s import prices represent a benchmark for international prices.
Turkish steel scrap import prices fell this week on poor demand from steelmakers and may fall further if tensions in North Africa and the Middle East continue to affect Turkey’s steel sales to key consumers.
Falling Turkish prices have influenced domestic prices in Europe, which fell by about $10-20 a tonne in the last couple of weeks, traders said.
Demand from China, the second-largest importer of steel scrap, was also weaker, putting further downward pressure on international prices.
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