According to market sources, the A3 grade scrap purchase price of Russian steel producer Novorosmetall Steel in its domestic market has remained unchanged week on week at RUB 11,500/mt ($176/mt) delivered to customer.
Meanwhile, another Russian mill Tagmet's domestic A3 grade scrap purchase price has declined by RUB 200/mt ($6/mt) in the same period to RUB 11,100/mt ($170/mt) delivered to customer.
Additionally, REMZ Steel restarted its scrap purchases on August 2, with its A3 grade scrap purchase price currently at RUB 11,800/mt ($181/mt) delivered to customer.
Meanwhile, demand in the Russian scrap market has been at low levels due to the traditional offseason for business in the summer holiday, while domestic scrap prices in the Russian market are expected to decline further amid the ongoing weakness of demand.
$1 = RUB 65.33