Markets

摘要

A number of market conditions suggest continuing weakness in the ferrous scrap market, where export demand has fallen by about 10 percent this year and U.S. steel production is down 8 percent. The strong dollar makes U.S. scrap volumes more expensive for potential foreign buyers. Thus, with a modest slowdown in export shipments, domestic steel mills have little reason to raise prices. At the same time, a slowdown in Chinese steel consumption has resulted in Chinese mills selling finished products worldwide at attractive prices. Thus, U.S. steel mills have to cut back production levels due to weaker sales. As a result, scrap prices fell $20 to $40 per metric ton in mid-summer.