International Scrap prices falls on demand concerns from Turkey

Friday,April 15,

Tracking a weak demand from top importer Turkey scrap prices fall for a fourth week.* Steel scrap traded at $430-440/Mt cost-and-freight (CFR) Turkey this week, down from $440-450 /Mt CFR last week.

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Traders -“The problem is finished products. The steel sale crisis is very serious, and Turkish producers are buying smaller scrap cargoes from at $422 CFR. International Billet prices have fallen in the past month as political unrest in key importing areas in North Africa and the Middle East has depressed investment in construction and demand for billet.”