China is unlikely to become a major supplier in the ferrous scrap export market over the short to mid-term, due largely to robust demand in that country's domestic market, according to a top executive at Turkey-based ??olakoglu Metalurji.
"I believe China is going to consume all the [ferrous] scrap internally. It's not going to export," chief executive Ugur Dalbeler said on Tuesday June 18, speaking at the Steel Success Strategies conference in New York.Market participants have shared concerns that China's massive internal reservoir of scrap materials could flow to other countries, including the United States, putting pressure on prices for key grades such as No1 busheling and...