Export prices for Russian scrap keep rising in January

摘要

Scrap has expectedly kept firming in price globally in early January. The main reason behind this is a need to restock amid short supply during New Year and Christmas holidays and bad weather conditions. Prices for A3 scrap from Rostov-on-Don have increased to $390-395/t CFR Turkey ($363-365/t FOB, freight to Marmara region $27/t, to Izmir region $30/t), up from $380-389/t CFR Turkey in late December. Shipowners have put up freight rates by $1/t because of worse weather in the Azov Sea basin.