Falling prices for metal production in ChinaThe cheapening of long products in China, which now looks quite probable, should pull down the marketable billet. At the end of July, it reached the highest level since the first half of May of this year, but now it is obviously awaiting a downward correction. In general, due to coronavirus restrictions, the Asian market is currently not in the best condition.
Scrap metal prices have fallen in Turkey over the past week. Oversupply was the main reason for this decline. Accordingly, Turkish metallurgists had to reduce the cost of rebar, while Russian billet exporters failed to try to raise quotations before the introduction of duties. However, according to local experts, the Turkish market may recover slightly in the second half of August.