The factory has gone to the summer holidays. Demand is okay. Prices have been under pressure but consumers are buying. There is still big demand from the automotive industry.
High grades are experiencing big demand. We have no trouble selling that material. There is not enough of that type of scrap in the market. Intake of scrap is good. Collectors have material but they don’t want to sell because the LME is low.
In Europe the markets are very good and there is no interest in selling to India and China. Within two or three days, we can get our material sold in Europe. European prices are better for primary material.
Collection is good and improving. Japanese have interest to buy in September. I am sure the primary market will do very good through the end of the year. The secondary market will experience a bit of a depression, in my opinion.
Bogdan Grincsisin can be contacted at gbogdan@gbti.hu.
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