November 2011 | Steel Raw Materials
The effects of the dollar/euro exchange rate on total ferrous scrap imports to Turkey
The global scrap market over the last five months has behaved rather peculiarly: having largely ignored cyclical trends, scrap prices have been fluctuating within a narrow price range. This month, we are investigating the effects of the US dollar/euro exchange rate on the total amount of ferrous scrap imports into Turkey.
Note: This breaking view is the first piece of a 3-part series, which investigates the effects of the US dollar/euro exchange rate, Turkish rebar and billet export prices, and Chinese iron ore import prices on the total volume of ferrous scrap imports into Turkey
The global scrap market over the last five months has behaved rather peculiarly: having largely ignored cyclical trends, scrap prices have been fluctuating within a narrow price range. However, in the last month, there has been an abrupt decline in the price and demand for international scrap. US east coast export prices fell to $405/tonne FOB, a month-on-month decline of $38/tonne or 8.6%. Although there is no single factor that is responsible for...
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