Turkey: Imported scrap price climbs to an eight-month high after mills resume deep-sea bookings
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After remaining inactive for a couple of weeks, Turkish steel mills have returned to market this week with a series of deep-sea cargo deals getting concluded from USA and European origins at increased prices.
Notably, imported scrap offers to Turkey for deep-sea bookings hit its highest level to around eight months high, since Jan'20.
Recent scrap import trades of Turkey
Strong euro against the dollar could be another reason that is driving imported scrap prices high. Currently, 1 euro is trading equivalent to $ 1.18.
Outlook - Market sources expect prices to increase further in the coming days. This may further push finish steel prices in Turkey.
