At the Bureau of International Recycling (BIR) Autumn Convention held on 27-28 October in Paris, concerns have emerged regarding a matter which only a few market players have considered with due attention so far, i.e., the volumes of steel offers coming from China, as stated by Ruggero Alocci, vice president of BIR Ferrous Board, in comments made to SteelOrbis.
Mr. Alocci said that the steel volumes coming from China are further depressing the international steel markets - and in particular the European steel market - which are already struggling because of the overcapacity problem. Furthermore, he added, the iron ore prices decreases have further favored the Chinese producers, who, amid the slowdown in domestic steel consumption, are able to offer steel to the export markets at competitive prices.
Meanwhile, decreases are forecast for international scrap prices in the short term, though market players are convinced that prices are very close to reaching bottom levels.