Downtrend to continue in November

摘要

The situation in the global finished products and semis markets will bethe key factor influencing CIS export scrap prices. Prices are expectedto drop in Turkey in November, for both finished products (by $30/t intotal) and square billet ($43/t in total). Given that prices for scrap beganmoving down earlier, and its usage is more profitable than re-rolling ofimport billet, quotes for the material are expected to decline less significantly.An increase in semis and steel quotes, which is expected totake place in Turkey in December-January (amid another upturn in theChinese steel market), will support prices for the material.