<<Every week I regret selling in the previous one. Because if I waited for a couple of days I would have earned more, considering that prices continue to rais>>. This is the perfect summary related to scrap made by a market operator: <<By now – he continues – I am in the mood of “sell, earn and regret”, I believe I am not overreacting if I am talking about a situation that seems to be out of control>>.
He is not overreacting if also another insider talks about <<a situation never experienced before, caused by a demand definitely higher than supply, with China, India and Turkey which are continuing to snap up scrap, making prices higher and higher>>.
With <<the sheet metal – it is a further confirmation – that is reaching 290 euro per ton, demolitions are now getting 260 euros and turnings that are approaching 240 euros. However everything suggests that it isn’t the end here, in fact, we are faced with transit prices towards even higher quotes>>.
Scrap is living an extremely delicate phase and it is confirmed by those who talks about <<traders who keep close the sales and they don’t even communicate prices, evidently they are waiting for new product revaluations and, considering what it is proposed on international market, it doesn’t seem a threat, but a certainty. Prices will continue to rise for months>>.
Indeed. There are people who announce <<another wave of increases, just look at what is happening in Turkey, where the price is over than 340 dollars per ton, to understand in which direction we are gong. Some rumors show the new increase of price from East Europe of 40/50 dollars per ton. At that point – a market operator concludes – we will no longer call it scrap, but gold>>.
SOURCE: SIDERWEB.COM
