Steelmakers to keep cutting buying prices in April-May

摘要

Lower competitive capacity of exports supported the downtrend in the Russian scrap market in March. Even despite the decline in the Russian scrap market, an April softening of import scrap prices in Turkey ($40/t down from the March peaks) anticipated by Metal Expert will minimize profitability of exports again and make traders suspend scrap collec?tion or resume business with local plants. According to Metal Expert's forecast, the trend in the global market will persist in May - scrap quotes will lose another $25/t, with a stabilization to follow in June. As a result, the external factor will have negative influence throughout the period.