Last week, purchase prices for ferrous scrap continued the trend of the previous week - they fell again against the backdrop of deteriorating demand for finished steel. The average market purchase price of metallurgical enterprises on September 24 - October 1 amounted to UAH 5700/mt, which is UAH100 less than the value of the previous week.Supplies to metallurgical plants
Ferrous scrap deliveries to metallurgical plants increased to 67.5 thousand tons, which is 4.5 thousand tons or 7.1% more than a week earlier.
Remains in the ports of Ukraine
Ferrous scrap stocks in ports rose to 1.5 thousand tons against 1.4 thousand tons in the previous week.
Dynamics of steel smelting
Steel production increased to 419 thousand tons, which is 17 thousand tons or 4.2% more than a week earlier.
Warehouse stocks of ferrous scrap at metallurgical enterprises
The level of meeting the needs of metal plants for ferrous scrap last week amounted to 103%, which allowed to increase their stocks. Remains of ferrous scrap in the warehouses of metallurgical plants increased to 110 thousand tons against 102 thousand tons a week earlier. Inventories in days of operation are 12 days, which is in line with the standard value.
Domestic ferrous scrap price forecast
A downward trend will dominate on the domestic market due to weakening demand for Ukrainian rolled products on foreign markets and high stocks at steelmakers. The forecast average price next week is UAH 5700/mt.
Source: "Ukrpromvneshexpertiza"
