Russian mills up procurement prices for A3 scrap

SteelOrbis has learned that, following Severstal's example, several other Russian steel mills late last week hiked their procurement prices for A3 scrap by on average Ruble 50-200/mt ($2-8). The highest price rises were those of MMK – Ruble 400/mt ($15), and of Severstal – Ruble 300/mt ($11) (the increase includes Severstal's total price rise for last week). Nevertheless, the average price of A3 grade scrap in the Russian domestic market changed only slightly, adding just Ruble 50/mt ($2) to its lowest level - since the changes were made within the existing range. The most recent prices of A3 scrap in the Russian domestic market stand in the range of Ruble 5,500-6,400/mt ($209-$243) including VAT. Exchange rate: USD 1 = Ruble 26.37