US East Coast docks cut scrap buying prices in face of struggling Turkey rebar market

摘要

Docks on the United States’ East Coast are working to lower buyingprices in an effort to increase margins, with the prospect of sellingferrous scrap to Turkey at higher numbers not seen as an option.Turkish mills are currently limited on what they can pay for scrapbecause rebar selling prices are under pressure. Deals for rebarex-works in Turkey are now being made at less than $470 per tonnefob, which puts a cap of $300 per tonne on scrap since mills ideallyneed to keep a spread of $170 per tonne between the price of scrapand finished steel.