Prices unlikely to change much until year-end

摘要

The Ukrainian steel scrap prices largely stabilized in October following a 1-2% decrease at the beginning of the month. However, over the month the average price dropped by nearly 9% amid sharp fluctuations in September. Steel scrap supply is fairly stable in the domestic market. In the first half of October, mills were receiving about 8,500-9,000 tpd on average, up 5-6% from the target. However, it is too early to say that the market is going to face an oversupply, considering reduced scrap requirement in October (by?almost 10%) and a seasonal decline in scrap collection in the forecast period. As a result, concerns over a possible shortage are still relevant, which will keep domestic prices from falling.