Turkey steel mills postponed the purchase of steel scrap

Published: 07 Sep 2009 01:45:11 PST

Sep.7 MetalBiz—The market participants said that due to the falling demand of long products, presently the small steel mills in Turkey only purchased small steel scrap. Many buyers predicted that the scrap price would drop in the following several days, therefore, they delayed to make a purchase. Last week, the settled price of No.1 and No.2 mix heave scarp (80:20) was U.S.$315-325 per ton (FOB, Turkey), but it is understood that there was no deal.

A debar manufacturer from Turkey disclosed that there was not any orders this week, but next week may place some new orders. Traders said that owing to the weak demand of debar, the steel mills were unwilling to purchase scrap with this price. However, most buyers still needed scrap for October delivery, so the buyers in Turkey were estimated to return back the market soon.