Following the drop in prices on global markets, Ukraine should also expect the decrease in ferrous scrap prices within weeks, economist Oleksiy Kusch has said.
“Global prices for scrap have been falling since late January, by $3-5 per ton every 4 days. Thus, while on February 1 the price was $422 per ton, now it dropped to $385 per ton. Ramadan, which will begin on March 10, will see business activity in the Muslim world cease altogether,” he said.
Thus, price will decrease by $10-25 per ton more. Some Turkish plants have already started demanding price decreases from Europe.
“Ukrainian market reacts to world market changes with a certain lag. In February-March, Ukrainian consumers were actively replenishing their scrap stocks. But even this has not led to the price growth in Ukraine. Only Interpipe increased prices, but other metal companies did not support it. Thus, the company will soon decrease prices,” he said. (Ukrainian metal)