Producers do not find higher levels viable due to falling rebar prices, weak steel sales and higher production costs from energy tariffs.
Says one supplier: “The current market price is a very critical threshold. Both higher and lower prices do not seem possible at the moment. Since Turkey has already lost its competitiveness in the global arena with current costs, high scrap prices are likely to lead to further production shutdowns in the Turkish market. ”
One mill said: “Scrap prices no longer follow the trend in rebar prices. Our only hope is to see a recovery in demand and a recovery in rebar prices in the new year.”
Although Turkish mills' needs for January shipment are not yet met, it seems that they are trying to fill the missing tonnages from the local and offshore markets due to high import scrap offers.
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