HMS 1 grade scrap showed its best performance in April compared to the last 6 months. On April 21, it reached a 6-month high of $437. However, prices, which had been on an upward trend for a long time, dropped significantly to $423 on April 26.
The picture is similar for 012-32 mm rebar. On April 21, the rebar price also reached a 6-month high of $621. However, it fell to $611 on April 26.
Finally, 62% Fe iron ore prices, which have been on the decline since January, started to recover in April. Although there is a moderate upward trend, this situation continues steadily.
Currently, buyers are preparing for the monsoon season that will start in June, which has led to increased demand. However, some experts in the sector predict that this increase in demand will stabilize in the coming days and prices will enter a downward trend in May. As of April 26, price decreases indicate that this situation has already begun.
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