In October, export quotations of scrap metal will generally vary in a wide price range, analysts at Ukrpromvneshexpertiza believe. 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 US dollars per ton, including delivery and insurance (CIF).
Last week (September 24 - October 1), world scrap prices remained unchanged at USD 440 per tonne for HMS 1 & 2 (80:20) due to the growing price confrontation between suppliers and buyers. The latter are trying to reduce prices, but traders are in no hurry to lower quotes due to low supply and minimal scrap metal trading margin.
