Russian domestic scrap prices on rise

SteelOrbis has learned that procurement scrap prices are continuing to rise in the Russian domestic market this week, with several steel mills hiking their procurement scrap prices by an average of Ruble 300-400/mt ($12-15/mt). Meanwhile, the highest increase was registered in the prices of Izstal and Mechel – Ruble 900/mt ($34/mt) and Ruble 1,000/mt ($38/mt) respectively. As a consequence of these rises, the new price level for A3 grade scrap in the Russian domestic market is at Ruble 5,850-7,000/mt ($224-268/mt).