According to the expectations of scrap suppliers, most of the scrap prices may remain flat this week. Some American traders expect scrap inventories to increase in the coming days, which will put pressure on sales. It is also on the agenda that Turkish buyers may be willing to reduce their possible purchase prices by $10-15. This could lead to a drop in current scrap prices. Factories continue to need material but do not want to affect suppliers with a sense of urgency.
Bangladesh was heard to have bought a ship from the US on Tuesday, but freight rates are said to be very uncertain, especially for the center. Prices are expected to remain largely unchanged for some time as factories in the Indian subcontinent face a shortage of raw materials. There are also reports that there is a shortage of scrap stocks in these regions. Therefore, prices are expected to move downwards for a while.
Some traders, on the other hand, expect the market to remain quiet this month. It seems that the problems in scrap flow will become even more difficult during the hot summer months. However, some comments suggest that this period is seasonal and that a rebound may be possible after the summer months.
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