Last week, the purchase prices of metal enterprises for ferrous scrap remained unchanged at the level of UAH5700/mt. The current price is quite satisfactory for buyers. The profitability of purchasing ferrous scrap remains above the standard value.
Supplies to metallurgical plants
Scrap deliveries to steel plants decreased to 68.4 thousand tons, which is 1.1 thousand tons or 1.6% less than a week earlier.
Remains in the ports of Ukraine
Scrap stocks in ports fell to 1.3 thousand tons against 1.4 thousand tons in the previous week.
Dynamics of steel smelting
Steel production fell to 398 thousand tons, which is 14 thousand tons or 3.4% less than a week earlier.
Warehouse stocks of ferrous scrap at metallurgical enterprises
Scrap deliveries to metallurgical enterprises amounted to 68.4 thousand tons with a demand of 61.4 thousand tons. The level of meeting the needs of metal plants for scrap last week amounted to 112.5%, which allowed them to increase their stocks. Remains of ferrous scrap in warehouses of metallurgical plants increased to 122 thousand tons against 120 thousand tons a week earlier. Inventories in working days are 13 days, which is slightly above the standard value.
Domestic scrap price forecast
In the domestic market, quotes will remain unchanged amid rising prices on international markets and signs of an imminent recovery in price growth in the long and flat segment. The forecast average price for the current week is UAH5700/mt.
Source: "Ukrpromvneshexpertiza"
