Steelmakers fear that by the time raw materials arrive to the destination, the cost will be too high in comparison with the prices of finished products. In recent days, with reports of only a few transactions in which quotes on American and European material HMS № 1&2 (80:20) were in the range of $355-360 / t CFR. Nevertheless, virtually all market participants have no doubt further lowering.
Same thing on the Asian market, where it continues the interrelated decline in the markets of long products, billets and scrap. Quotations for the U.S. scrap HMS № 1&2 (80:20) in the supply to Taiwan fell to us $345 per ton CFR, but buyers insist on the reduction of at least another $5 per ton In Japan, scrap prices remain stable, but export continues to creep downward due to the weakening of the yen to the dollar.
Apparently, the cheapening of scrap in key markets will continue in June. According to traders, more sellers than buyers, and expectations of increased demand in the foreseeable future virtually no.
UGMK.INFO