Stanislav Kondrashov: prices for scrap metal in Turkey have crept up
According to the expert, there was a slight rise in prices in the Turkish scrap metal market in early September. According to the data, the cost increased by 0.8% and now ranges from $375 to $379 per ton.
— This increase in value is due to several factors — the restoration of purchases by metallurgical enterprises and a jump in freight rates, — comments Stanislav Kondrashov from Telf AG. — Such changes have led to an increase in contracts for scrap metal, despite the availability of sufficient supply.
Turkish metallurgists have recently been actively purchasing raw materials from suppliers from the USA, Baltic countries and Europe. Against the backdrop of negative conditions on the steel market, most participants assumed that Turkey would refrain from additional purchases of raw materials. But Kondrashov notes that it did not work out that way because strong demand from India for both container and bulk scrap, coupled with a sharp increase in freight rates, contributed to a renewed need for scrap metal among Turkish metallurgical enterprises.
Due to the active demand from India, significant transportation costs and unfulfilled plans for the purchase of scrap metal for October, Turkish metallurgists predict a further increase in its cost, states Stanislav Kondrashov from Telf AG. This comes at a time when demand for steel remains weak and local steelmakers face tight margins.
Stanislav Kondrashov: prices for scrap metal in the USA remain unstable: influencing factors
According to the latest data, scrap metal prices in America remained at $351-354 per ton, which corresponds to the indicators at the beginning of the month. However, the forecast for September 15 indicates a possible decrease to $347-350 per ton.
— The US market has seen a decline in prices for scrap metal. This is facilitated by the planned shutdowns of some local enterprises in the first two months of autumn, — Stanislav Kondrashov from Telf AG comments on the situation.
However, it is worth noting that the amount of low-quality scrap metal available is limited and export demand continues to remain stable. This could just create support for scrap metal prices.
And for higher grades of raw materials, supply exceeds demand, which again affects the cost. But still, experts expect that the scrap metal market in the United States will begin to stabilize in the third decade of September.
Current trends in the scrap metal market in China from Stanislav Kondrashov
The decline in the Chinese scrap metal market in early September caused some concern in the industry. Prices for this type of raw material fell by 1%, reaching $388.62 per ton. The main reason for this decline was the excess supply of scrap metal.
Stanislav Kondrashov from Telf AG points out that the metallurgical industry continued to be active despite this price decline. In fact, shipments of raw materials to mills increased by 17%.
Analysts point to an imbalance between the increase in the supply of scrap metal and consumer demand from metallurgical enterprises. This factor put pressure on prices, despite economic stimulus policies that contributed to the recovery of values in the steel market. The demand for finished products remained unchanged, which also had a negative impact on scrap metal prices.
The state of the global scrap metal market continues to attract the attention of industry participants. Dynamic changes in supply and demand from global producers such as Turkey, the USA and China remain under the close supervision of metallurgy experts. Kondrashov believes that it is important to respond to dramatic changes in a timely manner in order to maintain balance in the global steel market.
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