Tag: Turkiye: Imported ferrous scrap index down by $2/t w-o-w; bearish price outlook amid weak steel market

Turkish imported ferrous scrap index declined by $2/t w-o-w as prices softened amid a growing bearish sentiment. The market pause and increasing backwardation in futures indicate expected price drops. A weak global as well as Turkish finished steel market has heightened concerns among participants. Turkish mills favouring billet imports over scrap due to price levels…