Europe--Price rally ends as Turkish demand fades

摘要

The upward price trend in the European scrap market has ceased for the time being. Our January assessment found prices almost at their peak, with the rally losing steam in the middle of last month. Since then, prices have eased back gradually. This downward correction is more modest when compared to the vigorous increase seen earlier in the year and still leaves prices for our February assessment in Spain, for instance, over ?40/tonne higher than the annual average for E3 grade scrap in 2010.