The problems surrounding the European economy have resulted in a significant reduction in the region's industrial output. Since the decreased output has also caused a fall in the
scrap flow from industrial sectors,
scrap supplies are depressed in
Europe nowadays.
It is heard that ex-Rotterdam
scrap prices are now standing at $395-400/mt FOB.
Although no ex-
Europe scrap offer has been heard in
Turkey lately, European suppliers are expected to issue their initial offers at $420-425/mt CFR, also leaving some room for further negotiations. However, the price idea of Turkish mills for ex-European
scrap is far below this price range.