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Scrap collectors in Ukraine are expecting an increase in world prices for scrap in September

Ukraine

After some downturn, global scrap prices are expected to rise again due to depletion of inventories from major importers.

Scrap collectors in Ukraine are expecting an increase in world prices for scrap in September

Despite the fact that in the coming days, quotations of scrap metal on the world market will decline, in September the cost of ferrous scrap is expected to increase due to the depletion of warehouse stocks at large importers and the expected improvement in demand for finished metal products, consider in the UKRMET group of companies, representing the scrap collection industry of Ukraine.

The forecasted range of world prices for scrap metal next week is $ 435-445 per tonne, taking into account delivery to the final consumer (CIF).

Last week in Ukraine, metallurgical plants managed to keep the purchase prices of scrap metal at the level of 8600 hryvnia (approximately $ 320) per ton, which is $ 100 lower than the world price.

Remains of scrap in the warehouses of Ukrainian metallurgical enterprises as of August 25 increased by almost 30 thousand tons to 163 thousand tons. Inventories in working days are 20 days, which is 8 days higher than the standard value. The highest reserves are at MMK im. Ilyich - 35 days. The lowest - at Azovstal - 1 day.

In the coming weeks, quotations of scrap metal on the domestic market will continue to decline against the backdrop of negative conditions on the long steel market. The forecast average price next week is UAH 8300 per ton.

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