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Middle East

There has been some improvement over recent months. In Saudi Arabia, for instance, the scrap market has been better than in the fourth quarter of last year. Prices have increased by 2-3% following an upturn in demand and are expected to gain a further 2-3% over the next couple of months.

Demand is still high in the Far East; China is buying but a little more slowly than other countries in the region. India is buying aggressively to cater for high demand.

The overall market is stable, especially in Asia. The current quarter has seen a slight increase in prices, but it is unclear whether they will keep improving throughout the year.