Last week (April 9-16), scrap metal quotations decreased in most regional markets due to weakening demand for finished products and the onset of the month of Ramadan in Muslim countries. Due to the fall in demand, quotations of scrap HMS 1&2 (80:20) in the Turkish market decreased by $5 to the level of $425-435/mt CIF. 

Last week, metallurgical enterprises kept the purchase prices for scrap unchanged at the level of UAH 7000/mt. 

The Ukrainian scrap market is showing negative monthly dynamics after a sharp rise in January-February. At the end of March, the volume of scrap collection compared to February decreased by 9.1% – to 291.9 thousand tons.

Last week (April 2-9), scrap quotations rose in all regional markets due to continued of restocking by importers and limited supply of American raw materials. In the Turkish market, the average market value of HMS 1&2 (80:20) scrap was $430-440/mt CIF. 

Last week, steelmakers kept the purchase prices for scrap unchanged at UAH 7000/mt. The forecasted average price next week is UAH 6700/mt.