Due to the export market softening, a US dealers are predicting that the September 2008 scrap price will fall again.
Actually, some scrap prices are already on a downward trend in the local market. Price of busheling scrap is estimated to drop by USD 200 per long tonne to USD 650 per long tonne, shredded scrap by USD 155 per long tonne to USD 400 per long tonne and HMS I by USD 145 per long tonne to USD 300 per long tonne.
Currently, with almost no foreign buyers placing orders, Turkey has become the main destination of American exports. However from this week, Turkey and Middle Easter countries are beginning Ramadan, so for September 2008, overseas market demand will continue to slow down.
Scrap prices have been falling in China and Western Europe also in Recent weeks.