Beginning of Ramadan, election 2015 may hit Turhish Scrap Industry in June

TURKEY May 22 2015 12:10 PM
ANKARA (Scrap Register): Beginning of Ramadan and general election of 2015 are expected to affect Turkish scrap industry during June.

Beginning of Ramadan in June one might have expected scrap prices to decrease, as construction activity traditionally reduces during this period.

According to The Steel Index, there is a feeling of ‘when’ and not ‘if’ this recent rise in Turkish scrap import prices will end.

There was, however, certainly no sign of a halt in momentum by the end of April, with Turkish steel mills continuing to book high volumes of material on the back of stronger domestic demand.

A slow-down in demand for June delivery may well occur with the beginning of Ramadan, along with the general election due to take place in the country.

The Turkish general election of 2015 will be held on June 7, 2015 to elect the 550 members of the Grand National Assembly.