Due to the current European financial crisis, the local industries were affected dramatically and have cut the output and price of scrap.
It is said that the European scrap is quoted at USD 395 to USD 400 per tonne FOB Rotterdam currently.
In the Turkish market, European mills offered the new price of USD 420 to USD 425 per tonne FOB for scrap.
However, Turkish scrap buyers expect a lower price than the current European offer.
Sourced from yieh.com