It is reported that quotations for Russian and European material are nominally kept within USD 390 per tonne to USD 395 per tonne CFR, American HMS 1&2 USD 395 per ton CFR and over.
In traders’ opinion, the cost of scrap should grow in December due to seasonal factor however this increase may be rather modest. The growth will be restricted first of all by weakness of long steel products and moreover, decrease of euro to dollar exchange rate resulted in decrease of prices to USD 370 per tonne to USD 380 per tonne CFR for HMS 1&2 shipments to Spain and Italy.
Activity in East Asia is generated mainly by Chinese and Korean buyers. Demand is described by the traders as relatively low and nevertheless prices go on moving up. The cost of American HMS 1&2 delivered in containers shifted to the level of USD 405 per tonne to USD 415 per tonne CFR and for huge tonnage lots to China and East Asian countries it can reach USD 420 per tonne to USD 430 per tonne CFR.