Local scrap purchase price trend reversed in Russia

Russian steel producers have started to decrease their A3 scrap purchase prices this week, following the rather steady rise seen previously. Increasing scrap collection in the local market, though proceeding at a slow pace, is still resulting in increasing supply in the market. In addition, although import scrap prices in Turkey have been increasing, the uptrend is gradual rather than sudden. Accordingly, Russian exporters from the Baltic region are not in much of a rush in terms of urgent purchases and have even decreased their purchase prices over the past week by $10/mt (RUB 500/mt) to $299/mt (RUB 23,000/mt) CPT, SteelOrbis has learned. In this situation, steel producers in Russia have chosen to cut their scrap purchase prices since for now there is no urgent need to secure required tonnages.

Prices are indicated without 20 percent VAT.

$1 = RUB 76.9