Trading activity expected to decline in April-May

摘要

By March 25, export prices for A3 steel scrap had lost 10-11% monthon-month. Seasonal rebound of construction activity in Turkey in April-May will lend no significant support to longs prices in view of the weak economic situation in the country and absence of incentives for its near-term improvement. In spring, Turkish rebar producers will manage to stabilize prices at best, but will hardly avoid price cuts in June, Metal Expert estimates. In this context, Turkish mills will seek to reduce scrap bids, though extremely high pressure on suppliers in April-May may adversely affect the finished product segment. On the other hand, scrap quotes will be supported by flats producers owing to strong demand and prices both at home and abroad.