June 2010 | Steel Raw Materials
Turkish buyers look to cheaper CIS sources: Scrap Highlights
European mills are making an effort to become more competitive and adjust to the weaker than expected demand situation.
Turkish import prices slipped to $330/tonne as we expected, with some European scrap yards holding onto inventories in the hope of better prices. Consequently, European scrap suppliers should expect to see further losses. European scrap is still largely on offer at $365/tonne cif for A3 material this week however, even as they were undercut by CIS merchants who sold to Turkish buyers at $330-340/tonne cif.
European trade slows down
European mills are making an effort to become more competitive and adjust to the weaker than expected demand situation. Domestic steel demand is frail with longs demand particularly a cause for concern. Consequently, MBR is forecasting that European steel production...
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