According to market sources, the A3 grade
scrap purchase price of Russian steel producer Novorosmetall Steel in its domestic market have remained unchanged week on week at RUB 11,600/mt ($179/mt) delivered to customer. Meanwhile, another Russian mill Tagmet's domestic A3 grade
scrap purchase price has declined by RUB 400/mt ($6/mt) in the same period to RUB 11,300/mt ($175/mt) delivered to customer.
Additionally, SteelOrbis has been informed that REMZ Steel is staying away from
scrap purchases as it has suspended production for a short while (i.e., for two to three weeks) due to an accident which occurred at its facility on July 9.
Meanwhile, domestic
scrap prices in the Russian market are expected to come under further pressure amid the ongoing weakness of demand which is not expected to improve in the coming period.
$1 = RUB 64.54