Сollapse in global prices to undermine Russian and Ukrainian suppliers

摘要

Discounts provided by European and Canadian suppliers to Turkish consumers in late March have set the trend in the global raw material market. Quotes for US HMS 1&2 (80:20) will reach $260/t CFR Turkey in April, with a drop to $235/t CFR to follow in May and a stabilization in June, Metal Expert forecasts. The decline in scrap prices will allow Turkish steelmakers to restore profitability of finished products sales. If the situation in the longs market continues deteriorating, importers will keep on pressing on raw material markets.