Russian steel producer REMZ Steel has restarted its
scrap purchases today, August 2, following its previous decision to stay away from the
scrap market amid suspension of its production after a technical malfunction which occurred at its facility on July 9.
The A3 grade
scrap purchase price of REMZ Steel in its domestic market has increased by RUB 300/mt ($4/mt) compared to its previous
scrap purchase price recorded on July 15 to RUB 11,800/mt ($176/mt) delivered to customer. Additionally, it has been reported that REMZ Steel will restart its steel production within two weeks.
$1 = RUB 66.76