Market split on Turkey scrap price direction

Jul 28, 2014 | 04:13 PM | Sean Davidson

Tags  scrap, ferrous, steel, exports, HMS, heavy melt, rebar, Turkey Egypt

NEW YORK — U.S. bulk ferrous scrap export activity is expected to slow down this week due to religious holidays in Turkey and the Middle East along with tepid demand from Asia.

East Coast and Gulf Coast market participants said mill buyers from key importing countries such as Turkey, Egypt and Saudi Arabia are expected to return to their offices by the end of this week as the region nears the end of the annual Ramadan holiday.

U.S. prices inched a little higher this past week after reports of a lone bulk cargo sale to Turkey from Houston (, July 23), but Turkish market participants are divided on whether prices will firm once buyers return from the holiday.....

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