Turkish ferrous scrap market: lull before Christmas

摘要

Buying activity is subsiding in the Turkish market for import ferrous scrap in late December. Both suppliers andsteelmakers refrain from signing new contracts, preferring summing up results of the last week, when new deals weremade several times a day, before Christmas and the New Year. As previously reported, improving markets for longsand flats allowed mills to bring their scrap bids above $450/t C&F last week and even those companies, who had beenholding back part of their scrap to artificially create a shortage of the material for the whole month, decided to closesales. In the last days before holidays only sporadic deals are made in the market by the mills, which have failed tobook the material last week and are forced to hurriedly buy additional volumes to sustain production during holidays.