Turk buys a ‘flash in the pan,’ scrap market seen slowing
Nov 13, 2008 | 11:23 AM
| Jana Marais
The flurry of scrap buying activity by Turkish mills in the past week was only a "flash in the pan" and prices might fall back again, market participants warned.
Turkish mills bought an estimated 25 to 40 cargoes in the past week, pushing prices for an 80-20 mix of No. 1 and No. 2 heavy melting steel scrap to as much as $290 per tonne c.f.r. from around $130 per tonne, and leading merchants to increase offer prices to other parts of the world.
However, sources in Turkey reported that no new deals were concluded on Wednesday and Thursday, and said mills might have bought sufficient material to last for now.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here