According to market participants, the European scrap prices have stabilized after two weeks of fluctuation.
The No.1 and No.2 mixed scrap (80:20) export offer stands at US$255-260/ton, while shredded scrap is offered at US$260-265/ton.
Turkish small mills’ strong demand had pushed up the prices, but the long products are not back in sales, scrap prices would not increase further.
It is expected the scrap price will further increase at mid December and early January due to Turkish mills’ purchase for production in February.