Turkish imports firm on decent steel demand

摘要

Turkish imported scrap prices strengthened to $280/mt CFR on February 18, from $267.50/mt at the start of the month, due to stronger domestic finished steel markets. Rebar demand improved on restocking in Turkey, while there was also strong interest in most flat steel products. Some market players believed prices could firm but noted the upside would be limited, unless the product market would send more notable bullish signs in the coming weeks. "I expect some stabilization at $285/ mt," one European trader said. But a Turkish steelmaker thought downstream demand may not be strong enough to justify further price hikes.