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Thu, Dec 13, 2018, 17:39:45 ---- The fact: 38.682.000 visitors done.

SBB: Steel price set to drop
Steel Business Briefing
Port Pipe and Tube Inc
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Company: Steel Business Briefing, United Kingdom
Attn: Steven Randall

Although steel prices are still rising, they are expected to peak shortly. Scrap prices in Europe and Turkey seem to have peaked after a rapid climb since November.

Steel prices have risen this year due to the higher quarterly prices for iron ore and coking coal and to strong steel demand from traders and stockists.

Turkey is one of the main third country buyers of EU scrap. Poor finished demand for Turkish exports means its mills are unwilling to pay higher prices for scrap, according to one trader. "It seems Turkish producers want to stop buying because it is not easy for them to sell their final products," he says, suggesting we are in a bubble... I hope that it will not burst. Scrap costs are too high in relation to finished product prices.

Spain buys a lot of scrap from the UK. Consequently UK prices too may soon stop rising. "The market is now driven by speculation, instead of real demand. New scrap price increases may be too much and we fear a change of trend," a Spanish scrap merchant told SBB.

For further information, please contact: p.ferris-rotman@sbb.com or call the SBB team +44 (0)20 7645 9431

About SBB:

Steel Business Briefing Ltd (SBB) was formed in London in 2001 by a small group of steel professionals. Its philosophy was, and still is, to serve the global steel business with quality news, prices, research and events.

SBB now has six offices around the world in key steel areas, and publishes every day in 7 languages. We have over 150 members of staff, are read by over 80,000 people daily, and continue to grow rapidly.



     Tel: +44 (0)20 7645 9431   Fax: +44 207 929 4666
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