European merchants have reduced their ferrous scrap offers for the first time in months asTurkish steelmakers refrained from booking new cargoes, market participants said. Sustained Turkish buying over the past few months pushed up EU- and US-origin ferrous scrap prices. But most mills now have sufficient stocks for melting until mid-May atthe earliest, Turkish market players said. As a result, several EU merchants have reduced their prices by 5-10 dollars pertonne.
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