It is reported that Russian domestic scrap market keeps flat recently. Supply and demand now is in balance as some mills start to replenish inventory for winter.
Currently, scrap price prevails at RUB 9,500 per tonne to RUB 10,000 per tonne CPT in Russia while some mills even lift the purchase price up to RUB 10,200 per tonne FCA. The supply is sufficient, said a mill but the lack of railway carriages cripples the delivery. Another reason that making purchase difficult is that the mill cash flow is tight, stressed by high inventory.
Scrap exports also witness a slide with A3 scrap destined to Turkey quoted at USD 460 per tonne CFR a bit lower than the USD480 per tonne CFR in June. Bull demand in domestic also cushions the traders to export.
( Source: steelguru.com )