World Scrap Metal Market Summary Feb 20
American scrap market softening – Due to the weakening market conditions, the buyers of scrap in American have decreased their purchases.
The condition of fewer and fewer exporting orders for scrap will last to this April.
It is estimated that Turkey’s steel mills will return to the market to buy scrap in April. However, this strong demand will not last long. At present, the “preferred price” of steel mills in Turkey is CFR US$215-220/ton; however, this price is hard to achieve.
Italy’s scrap market kept quite – Italy’s domestic scrap price dropped by �15/ton in the beginning of February, and meanwhile the price in other European countries slid by �30 – �35/ton.
Though the scrap supply in Italian market has reduced by 50 percent, purchasing demand still remained very low. The scrap sales volume is estimated to fall by 30~40 percent in Italian market.
The current shredded scrap price in Italy market was at �190 – �205/ton. |
