Scrap prices in Russia have been soaring even up by 10 percent since last December on severe supply crunch followed by adverse weather conditions in the country.
At present, Russia’s A3 scrap prices have increased to RUB10, 500~RUB11, 700/ton in comparison of RUB9, 200~RUB10, 000/ton in last December.
Russian scrap export prices are likely to move upward in lines with iron ore prices. The price may increase further in March while Turkish buyers return to the market, Yieh Corp reported.