Demand and prices to remain high at least until year-end

摘要

By November 20, export prices for A3 scrap had surged by 17% monthon-month. Despite a steep rise in November prices for finished and semi-finished steel in Turkey, Metal Expert expects steel product quotes to remain fairly high in December, chiefly due to successful rebar sales abroad. However, the situation in the Chinese and Asian steel markets, which are the drivers of the current price rise, is likely to get worse in January and the negative trend will spread to other regional markets. As a result, scrap suppliers will see quotes standing still in Turkey until at least the end of the year, with the country's mills starting insisting on lower import scrap prices in early 2021.