Prices to trend down in November

摘要

By October 20, the average market price for A3 scrap inched down by 1%in the European part of Russia, while staying unmoved in the Ural region.The price trend will change in Russia’s steel scrap market mostly due toworse situation in the segments for finished and semi-finished products.Given shrinking demand, steelmakers had to start giving discounts todomestic buyers of rebar in October. According to Metal Expert’s forecast,quotes will keep going down by RUB 1,500/t in November and RUB1,000/t in December, thereby forcing producers to cut scrap purchaseprices. Rebar tags are expected to stabilize in Russia from January, somills will face less pressure when buying scrap.