Russian local scrap purchase prices have continued climbing this week, with another RUB 100-400/mt ($2-6/mt) added by mills and RUB 300-1,000/mt ($5-14/mt) by exporters as compared to earlier this week. The Turkish market where the prices seem to have settled at $510/mt CFR on average for now remains the main driver.
However, today the market is full of discussions regarding what will be the effect of the renewed export duty regulation. On May 25, the Russian authorities have announced their decision to increase the minimal rate to €70/mt from €45/mt currently valid. Previously, it was suggested to raise the tax to €90/mt. “It is new and the effect on the market prices is yet to be seen. If Turkey weakens, local scrap prices might go down,” a source told SteelOrbis.
Local A3 scrap purchase prices in Russia, RUB/mt ($/mt)
Region |
Transportation |
Price (RUB/mt) |
Price ($/mt) |
Price change (RUB/mt) |
Price change ($/mt) |
Central |
Railway, FCA |
27,800 |
378 |
+400 |
+6 |
Ural |
Railway, FCA |
27,800 |
378 |
+100 |
+2 |
Exporters (Baltic region) |
Railway, CPT |
26,800-27500 |
364-374 |
+300-1,000 |
+5-14 |
$1 = RUB 73.55
