It is reported that
European scrap exporters become the top exporters in the world over US in Jan-Mar
2012 period with 6.15 million MT of scrap exports followed by US with 5.4
million MT of scrap exports.
European scrap
exports increased by 38% Y-o-Y in Q1. US scrap exports up by 7.7% in Q1 Y-o-Y.
According to the
sources, European exports expected to reach a new high to around 25 millions MT
of scrap this year in line with the higher freight rates and change in currency
value.
Turkey remained the
top importer of European scrap with 3.37 million MT i.e. 28% of the total
exports. Whereas Europe exported around 0.83 million MT scrap to India. US
importers have also booked around 0.17 million MT of scrap from European
exporters.
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