Scrap exporters, based in Russia’s Baltic region, remain positive regarding the market trend and keep increasing their local purchasing prices, targeting to secure their scrap needs. Since earlier this week their scrap purchase prices have increased by $6/mt (RUB 400/mt) to $270/mt (RUB 20,400/mt) CPT, SteelOrbis has learned.
Moreover, market sources expect the prices to increase further, taking into account that Turkish mills have accepted a new price increase in deals from the Baltic region. In particular, in the most recent transactions the $350/mt CFR level has been accepted. In such situation, some market players believe that the scrap exporters from Russia will be soon ready to pay $284/mt (RUB 21,500/mt) CPT St. Petersburg.