Prices to decrease in November at earliest

摘要

Steel scrap purchase prices kept surging in August, adding 10-15% by August 20. Consumers were competing for volumes mostly in individual talks with suppliers. Traders keep strengthening their positions in the stand-off with final consumers as scrap collectors keep raising prices at yards, expecting mills to adjust their bids similarly. As a result, offers from different suppliers may vary by 10-15%, Metal Expert learns. At the same time, the situation is unlikely to be resolved in the near future since suppliers have to secure shipments to mills, while activity in the sector has notably slowed down because of the quarantine restrictions and rather low prices in spring. Consequently, this factor will exert strong influence on domestic supplies in the short-term outlook.