Rusmet RA scrap price index for the 39th week (September 23-29) dropped again — to 20,500 rubles per ton (loading by rail). FCA basis, excluding delivery. This is another -0.73%.
Compared to the beginning of the year, the index is 15% lower. Relative to the same period of 2023 — by 20%.
On the LME, scrap is up 6.5% since the start of last week. Week 39 showed gains again on the London Metal Exchange. Scrap futures were at their lowest point at the beginning of the week at $367.5 per ton on September 23. By September 29, the price had risen to $382 per ton. The price had risen to $382 per ton.
And on October 1, the futures are already $393 per ton.
The difference in the cost of scrap in the domestic and foreign markets reached 44%
As of October 2, the U.S. dollar exchange rate is 93.73 rubles. The average cost of scrap at the LME on October 2 at the Central Bank rate was 36,689, 73 rubles per ton. The cost gap is 44.13%. Both the cost of scrap on the external market and the currency are growing, reports marketplace Vtorion with reference to the data of the London Metal Exchange, Rusmet RA and the Central Bank of Russia.