RTE Stuttgart - According to the American Association for scrap metal and scrap the Institute of Scrap Recycling Industries' do not meet Chinese buyers purchase contracts with a value of 1 billion U.S. dollars.
In hindsight, would Chinese steel producers and foundries and dealers, some of which are owned by the State to refuse acceptance of deliveries, demand lower prices or terminate contracts.
China is the second-largest market for scrap metal and scrap for U.S. dealers from Turkey.
The price of steel scrap of the variety "no. 1 heavy melting" is gone in the past two months by 61 percent to about $ 120 back.
According to the China Association of scrap and scrap-using companies (China Association of Metal Scrap Utilization), Chinese imports of scrap metal and scrap this year would reach 3 million tonnes. In the previous year at 3.3 million tonnes this The Chinese companies will increasingly rely on scrap rather than ore.
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