26
Jul
17:33
Russian duty restricts scrap-based mills
Russian scrap-based mills need billet prices to rise to around $680-700/tonne fob Black Sea or they will be forced to cut output. This is due to the 15% (but not less than $115/t) export duty enforced on 1 August eating into production costs.
The mills' variable billet production cost is currently around $515/t ex-works, based on average scrap price delivered to Southern and Urals mills at Rub 26,000/t ($353/t) last week. Adding around $30/t in costs, the resu…
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Anonymous
Very good overview of the weekly steel market.
Anonymous