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In the third week of September, Russian steel mills remained cautious in pricing scrap steel. Overall prices remained stable due to a weak finished steel market and assessments of raw material supply and demand balance. X56N steel, Meanwhile, TMK's southern mills withdrew from the market, and reduced raw material demand from some production capacity in the Ural region also limited the potential for scrap steel price increases.
Southern Federal District (truck delivery CPT steel mill): 16,500-18,000 rubles/ton (198-216 USD/ton). (All prices exclude 20% VAT, FCA supplier, exchange rate calculated at 1 USD = 83.17 rubles)
Despite current price stability, strong purchasing demand from major consuming enterprises due to low inventory levels and intensified market competition suggests upward pressure on scrap steel prices in the short term. X56N steel, Previous increases in scrap yard purchase prices and increased procurement by some smaller steel mills reliant on truck deliveries have also laid the foundation for further price increases. It is understood that large buyers plan to raise their purchase prices by 500-1000 rubles/ton (6-12 USD/ton) in the near future.
However, further price increases will depend on suppliers' shipping response and whether large steel mills are willing to support more intense price competition. X56N steel, Industry insiders predict that without a significant improvement in the finished steel market, steel mills will have limited room for price adjustments.
