Ferrous scrap exports stall in Turkey’s absence
Apr 08, 2013 | 04:02 PM
| Sean Davidson
NEW YORK East Coast bulk ferrous scrap exports remain at a standstill as a weak finished product market in Turkey keeps the countrys largest offshore scrap consumer at bay.
Turkish mill buyers failed to return to the docks once the U.S. domestic market settled, as had been anticipated, with market participants describing the past few weeks as "dead," "quiet" or "boring."
A source in Turkey said some mills had picked up small cargoes from neighboring shores, but a majority of the mills remained inactive in scrap markets. "Everybody wants a brave heart to come and buy a U.S. deep-sea cargo to determine the market level," he said. "It is still so quiet. Turkish mills are buying billets and local scrap in order to postpone the deep-sea purchases."....
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