According to local media reports, Spain-based steel producer Celsa Group is looking to start purchasing ferrous scrap in Estonia for its steel mills in Europe.
Several European sources say that if Celsa begins buying large blocks of scrap in Estonia, prices on the domestic market could increase by between 15-20 percent.
Baltic Business News notes that the Spain-based group could end up with between 30-40 percent of the market share in the country.
Celsa Group has seven steelmaking companies - three in Spain, one in the UK, one in Poland, one in Norway and one in France. The company specializes in rebar, coil, merchant bars and wire rods.
According to experts, the scrap market of Estonia amounted to 400,000 tons last year which is roughly half the size of the market only several years ago.
The BBN reports that Celsa is looking at the possibility of exporting scrap from Estonia through one of its ports. Baltic Business News
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