Analysts predict scrap prices in October in the range of $430-450/mt

Last week (September 24 – October 1), scrap prices remained unchanged at $440/mt CIF for HMS 1&2 (80:20) due to the growing price confrontation between suppliers and buyers. The latter are trying to lower prices, but traders are in no hurry to lower quotes due to low supply and minimal scrap metal trading margin.

In October, export quotations of scrap metal will generally vary in a wide price range. Exporters' attempts to increase prices are unlikely to be successful, as demand for long products will decline. At the same time, the desire of importers to reduce quotations will be constrained by low warehouse stocks, as well as reduced supply in the US and EU markets. In such conditions, transactions will be single, concluded only by those suppliers who will experience great needs for prompt provision of raw materials. The forecast range of prices for scrap in October is $430–450/mt CIF.

Source: "Ukrpromvneshexpertiza"