During the SteelOrbis Fall 2014 Conference and 71st IREPAS Meeting held in Berlin, the traders committee evaluated various issues ranging from political instability to raw material pricing and low profitability in the steel business and among traders. The traders committee chairman F.D. Baysal from Seba International said that, despite the political instability in the Middle East, particularly in Iraq and Syria, shipments to Iraq are still continuing, though with some interruptions. He underlined that there are new possibilities for buying from and selling to Iran which is a new market to look forward to.
Regarding the tensions between Ukraine and Russia, Mr. Baysal stated that business is being carried on as usual, with minor interruptions which do not pose any major problems for traders. The trade flow in the region is observed to be continuing as before.
Commenting on different antidumping cases, Mr. Baysal remarked that, since Turkey is exempt from US rebar antidumping duties, rebar exports from Turkey to the US will continue, adding that the pricing may not change. He pointed out that, with China exiting the US market as a result of the wire rod antidumping duty investigation, there will be new countries entering the US market.
With regard to the increasing volumes of Chinese exports flooding the market, Baysal said that he has been always a supporter of free trade as long as it is also fair trade as well - speaking in response to market information that China is exporting to North Africa with 180-day credit terms.
Finally, commenting on raw material prices, the traders committee chairman said that iron ore prices have been declining and probably will decline further, forcing scrap prices to decline as well. Traders are looking forward to seeing lower prices, he affirmed.