No trend discernible

DenisReuter (TSR Recycling), Chairman of the BIR's Steel Committee, explains that the beginning of the fourth quarter of last year continued to be marked by China's strict zero interest rate policy and the global rate hike cycle of major central banks. The global steel industry was confronted with persistently weak demand and rising production costs. Steel mill buyers lowered scrap prices, keeping prices in Europe and Turkey under pressure at the start of the quarter.