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International scrap steel market overall weakness

Affected by the slowdown in
demand, the international scrap market experienced a slight rise then a
downturn, since October fell more than 20 U.S. dollars / ton. Because of concerns about the global economic outlook
and weak demand for finished products, turkey stopped
purchasing scrap steel, Asian importers are also on the sidelines, leading
European and American scrap export prices drop. Because of export market downturn and increased
supply, the rapid decline in the Japanese scrap market.

European scrap market
as a whole declined. Due to demand downturn, southern Europe of scrap steel prices
fell 10-15 euros/tons last week, the market is expected further decline 10-20
euros/tons. Currently, the melting
steel scrap prices is 280-295 euros / tonne, shredded scrap price 300-335 euros
/ ton, the new production scrap price is 315-345 euros / ton. In Turkey, scrap import market began to fall. As the
demand for finished material weakness,the euro against the dollar weak and two
times of economic worries about a recession, Turkey scrap steel is far from the
international market, although suppliers are down, but not heard that have a
deal. In the next few weeks is expected that Turkey will
still not purchase large quantities scrap steel mill, the short term import
prices will decline further, decline about $20 / tons.

Ontrend Industrial Limited is a professional  manufacturer and supplier for ERW Steel pipeSteel Channel Angles,Steel Bars and Tinplate.our aim is to give all of our customers “Good Quality, Better Price, Best Service” and keep “WIN-WIN” aim. Following these we are growing stable and rapidly.

 

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