Russian mills raise scrap prices on tight supply

摘要

The situation changed in the Russian steel scrap market in mid-November. Some mills raised their scrap bids amid short supply, which caused a chain reaction.NLMK and Vyksa Steel Works increased their prices for A3 in the Central Federal District, but other consumers decided not to get involved in the price race so far. As a result, the regional price range for A3 moved to RUB 12,600-13,200/t ($196-206/t; here and below 20% VAT-exclusive, FCA collector, $1 = RUB 64.21) versus RUB 12,500-13,000/t ($196-204/t based on a relevant exchange rate) a week earlier. However, insiders believe that consumers whose bids are now lower will join the increase campaign soon. “Severstal and BMZ will have to follow general sentiments and react to the competitors’ moves sooner or later,” a source told Metal Expert.