Prices fall on weak Turkish market

摘要

While Turkey saw prices drop in an active trading market in the first half of July, Asian markets remained largely stable with few fundamental changes observed in the market. The Turkish steel scrap market weakened in the week ending July 20, compared with the week before, largely led by lower-priced scrap out of the EU, while US cargoes have resisted the pressure on prices by Turkish buyers, widening the usual spread between EU and US material. Despite some domestic rebar sales reported in Turkey, the domestic market remained "a disaster," with limited sales options that could lead to further falls in scrap import prices in coming weeks.