This was due to the reduction in price of long products in the middle East and in East Asia. Metallurgical companies simply refused inappropriate for them offers. At the same time, the depreciation of the Euro against the dollar has allowed European traders to improve their position in the Turkish market by lowering prices. The cost of material HMS № 1&2 (80:20) of European descent was reduced to about $440 per ton CFR Turkey, while American companies may not offer less than $445-450 per ton CFR. Acquired the Turkish company also Russian and Romanian A3 material at $430-440 / t CFR.
In Asia, the market is falling under the influence of Japanese H2 scrap. Quotes dropped to less than $400 per MT FOB despite the relatively high rate of the yen against the dollar. Now American companies that sell scrap HMS № 1&2 (80:20) to Korea and Taiwan, have to reduce prices to $435-440 per ton CFR, while in the countries of Southeast Asia, this material can be up to $450 per ton CFR and more.
UGMK.INFO