CIS scrap metal exporters raise prices amid falling supplies

According to market experts, scrap metal from the CIS increased in price due to a decrease in supplies, and this trend will continue, causing fear, first of all, among Turkish importers, who are concerned about the consequences of rising prices for the country's steel sector.

The shipment of A3 scrap from Rostov-on-Don to Turkey was reportedly priced at $ 242-245 per tonne CFR. This is $ 14-17 per tonne higher than last week's prices. Meanwhile, supplies of traders from Ukraine are quoted at $ 230 per tonne CFR, which is $ 5 per tonne higher than the price of the previous week. Another A3 shipment from the Baltic ports was sold at $ 252 per ton CFR to Turkey. Prices are up $ 12 per tonne from last week's nominal prices.

Meanwhile, the level of activity remains low as traders look forward to further price increases. In the event of a strengthening of the ruble, the situation becomes less favorable for exporters, as prices continue to remain low. Scrap orders are set to rise as supplies continue to be unsatisfactory, traders believe.

Prices in southern ports have also increased by $ 7-10 per tonne CFR over the week. Meanwhile, Russian exporters in the Far East were forced to agree to lower prices. The A3 scrap shipment was sold at $ 235 per tonne CFR to South Korea, down $ 3 per tonne CFR from the previous contract.