Global scrap price has finally stopped falling this week.
American export scrap offer had slightly gone up about US$5/ton before last weekend and the current prices to Taiwan stand at US$420/ton.
It is expected that ocean freight will rise in June and therefore American scrap mills have started to raise price in advance.
Although American scrap price has increased, the scrap price in European market is likely to drop due to the bank financial problem which may hurt the American scrap market.
(source: Yieh.com)