Forecast of decline in prices for ferrous scrap in November

About the data of the state enterprise “Ukrpromvneshnekspertiza”, in November, another decrease in prices in the domestic market of Ukraine is expected. The forecast average price for the next week is UAH 7756 / t

The main factors behind the fall in prices will be a weakening of demand in the long-rolled steel market and a fairly high supply from American and European suppliers. In addition, in a falling market, suppliers will make concessions to customers, which will contribute to an additional promotion of the flywheel of quotes reduction in Turkey and in Asian markets.

Also during this period, importers traditionally reduce purchases, in the hope of pushing prices as low as possible, in order to start forming winter stocks of scrap from low price positions.

  The forecast price range for scrap in November is $ 320-335 / t CIF