Steel mills to start cutting prices in November

摘要

By September 20, average market prices for A3 scrap rose by an averageof 4% in the European part of Russia and in the Ural region. Longs prices will remain high in Russia in October, allowing steelmakersto maintain the uptrend if supply is short. The situation in the Russianlongs market will begin to worsen seasonally in November: rebar pricesin the Central Federal District will drop by RUB 1,500/t and stabilizein December, Metal Expert forecasts. In the circumstances, the majorconsumers will cut steel scrap bids.