Ukraine may temporarily resume export of scrap metal

Despite high tariffs, Ukrainian trading companies may resume export of scrap. As scrap prices in Turkey rose, domestic consumers hoped to optimize costs by lowering scrap purchase prices amid high stocks of raw materials.

There was an oversupply in the Ukrainian scrap steel market, and the stocks in the warehouses of many metallurgical companies were comparable to monthly standards. Therefore, in February, consumers sharply reduced purchase prices and even set a quota for the supply of raw materials to the plant.

Since the beginning of this year, scrap prices in the world market have been growing rapidly, especially in the Turkish market. This made the sale of Ukrainian raw materials profitable, even taking into account the export duty of 58 euros /t.

However, long-term export of scrap for Ukraine is unlikely due to such high tariffs.

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