The Yorkshire side wanted to borrow the midfield battler to counter an
injury crisis, which saw them missing five players from the defeat against
Morecambe on Tuesday.
Iron manager Brian Laws told the Scunthorpe Telegraph: "Halifax came in for
Terry but we turned them down because he is still very much in this club's
plans.
"The only reason we would let players leave was if it was of benefit to
either them or the club and this deal wasn't either of those. Terry didn't
need to go."
Laws also hopes to extend striker Andy Keogh's loan from Leeds into a third
month.