Prices to be moving down in October-November

摘要

By September 20, export prices for A3 scrap had added 4% month-onmonth. Turkish longs producers will fail to maintain high prices for rebar due to an anticipated drop in demand in the country. The government has virtually run out of all possible financial incentives to maintain high construction activity and to drive housing demand up further, Metal Expert believes. Moreover, the inflation risks keep increasing in the country, with the lira exchange rate sinking to its lowest over more than one year. As a result, the situation in the longs segment will be getting worse in the next three months, which will inevitably affect scrap quotes.