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The recession of steel scrap world market because progressing weakness of lengthy hire has begun again.

 Expansion of cheap Chinese production has provoked falling of quotations to the markets of East Asia and the Near East, as a result Metallurgical companies intensively force down the prices for raw materials.

The Turkish companies which have renewed the transactions in the beginning of September, have achieved concessions from the European and American suppliers. Cost of material HMS № 1&2 (80:20), all the August long keeping above a mark of $400 per ton CFR, was reduced to nearby $395 per ton CFR. The Russian steel scrap grade 3А while is offered on $390-395 per ton CFR, but Turkish metallurgists prefer to buy a similar material in Romania on $380 per ton CFR or European HMS № 1&2 (70:30).

In Asia the American scrap metal HMS № 1&2 (80:20) too has fallen in price to nearby $380-390 per ton CFR, having lost last week prior to $20 per ton. In Japan Tokyo Steel Manufacturing, in the middle of August twice lifting procurement prices of a steel scrap, for last two weeks three times them has lowered.

By data: UGMK.INFO

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