Scrap price bounce may boost steel: Irepas

Jun 13, 2013 | 05:53 PM | Sean Davidson

Tags  steel producers, raw materials, Irepas, rebar, International Rebar Producers and Exporters Association, steel, Sean Davidson

NEW ORLEANS — Steel producers in Turkey hope that a possible recovery in raw material prices will trigger a similar uptick in the finished steel market, if only in sentiment.

"The situation in the market is critical," the International Rebar Exporters and Producers Association (Irepas), an Istanbul-based industry group, said in its June outlook. "The holiday season is ahead, and there are no great expectations for the short and medium term. That said, raw material prices are now very close to the bottom and a possible rebound in the coming weeks would change the mood in the long steel market."....





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