Current Scrap Metal Prices

ASIAN AVERAGE CARBON STEEL PRICES – LATEST FORECASTS FROM MEPS

In the flat products category, our July forecasts are little changed from the previous month. Transaction values are expected to continue climbing from September onwards. An increase in the price of oil products, electricity and railway freight costs in China are likely to put upward pressure on selling figures throughout the second half of this year. Asian mills are also likely to push through further advances in a bid to recover the higher cost of iron ore since the conclusion of the 2008 annual contracts. Posco is due to begin work on the Gwangyang mini mill in October. Consequently, there will be reduced export quantities from South Korea during the fourth quarter. This could help to restrict supply across the region. As such, steel selling figures are forecast to rise faster over this period.

For remainder of article please go to www.meps.co.uk/steel-price-forecast-asia7-08.htm