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ID-80-38 1 (1980-05-20)

handle is hein.gao/gaobabaov0001 and id is 1 raw text is:               RESTRICTKD--Not to bi remasea owseu i.e %n.tnura,
RELEASED      Accounting Office except on the basis of specific approval 1136
              by the Office of Congressional Relations.        06


   BY THE CO(MPTROLLER GENERAL

   Report To The Chairman, Committee

   On Labor And Human Resources

   United States Senate

   OF THE UNITED STATES




   International Trade And

   Export Policies In The

   Ferrous Scrap Market


   Ferrous scrap, one of the principal raw mater-
   ials used in steelmaking, is significant in inter-
   national trade. GAO found that:

       --Scrap is traded in a highly competitive
       spot  market, with prices determined
       on the basis of supply and demand.

       --Unlike North America, European and
       Far East areas are net importers of
       ferrous scrap. Continuation of recent-
       ly initiated liberal trade practices by
       major scrap exporting countries in
       Europe could help meet the demand
       of scrap deficit countries. Neverthe-
       less, net importers in Europe and the
       Far East will need to continue to buy
       scrap from the United States.





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               I; U

                 C                                                  ID-80-38
                                                                MAY 20, 1980
       CoN s   '

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