Turkish scrap stable as suppliers test price upside

摘要

US and Baltic merchants were still testing $270/mt CFR levels for premium heavy melting scrap I/II (80:20) into Turkey Wednesday, though mills registered no interest. A UK supplier said he heard an offer of $263/mt CFR for 80:20 material was rejected by Turkish mills this week. “The market is all over the place; there’s resistance on both sides. The iron ore price and other steel prices say that this [rise in the market] shouldn’t be happening,” he said.