Reports that Turkish scrap market is very weak

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Trade of scrap metal into Turkey is being reported by sources in the market as very weak at present.

It is rumoured that only one shipment of scrap was sent into Turkey from overseas markets last week. For the past few years, Turkey has been seen as a good buyer of scrap, because it is seen as the gateway to the Middle East, which in many countries there has seen a construction boom.

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Traders are indicating that Turkish steel mills aren’t buying scrap at present because supply and demand in the domestic market isn’t clear with prices in the export market seen as high, despite recent price drops.