Prices to decrease in July-August

摘要

In the last week of June, export prices for A3 steel scrap increased by 3?4% m-o-m following the trend reversal in the middle of the month. The environment of the global markets for finished products will have the key impact on export scrap prices. Metal Expert believes there is no more room left for a further increase in Turkish longs quotes as consuming industries in Turkey fail to provide sufficient support to the market while external demand remains low. Demand for steel products may even decline in the coming months if Turkey's economy recovers too slow despite the measures taken by the government. Metal Expert expects global prices for rebar and semi-finished products to decrease in the forecast period because of higher supply and tougher competition for sales outlets. This will be contributing to a reduction in scrap prices.