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20 Feb

Turkey’s scrap demand fails to recover

Turkish mills’ scrap demand is seeing no recovery so far this week despite Turkey’s ongoing requirement for March-shipment cargoes. Chinese rebar and hot rolled coil futures continued to fall at an accelerated pace on the second trading day after the Chinese New Year holiday. Weak steel sales are preventing Turkish mills from seeing a positive picture of the market and resuming scrap purchases. On Tuesday, demand for scrap remained subdued in Turkey.…
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