Turkish scrap buyers return with a flourish

Oct 31, 2008 | 12:05 PM | Michael Marley

Turkish steelmakers have bought 18 cargoes of scrap in the past week from U.S., British and northern European exporters, all to be shipped in November.

Industry sources said that several Turkish steelmakers had returned to the international ferrous scrap market en masse and estimated the tonnages purchased in the buying blitz to be between 500,000 and 600,000 tonnes.

One exporter said he did not believe the buying reflected a strong rebound in demand for rebar and other finished steel products produced by the mills. "The Turks have gotten a few small orders in the past few weeks for rebar," he said, "but their morale is still pretty low."....

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