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META Sells 667,000,000 kg of Scrap Metal

UrBC, Yekaterinburg, August 18, 2016. ChTPZ Group’s META sold 667,000,000 kg of scrap ferrous metals in the first half of 2016, which exceeded the figures for one year earlier (624,000,000 kg) by 7%, the company press service reports.

This figure included 342,000,000 kg of scrap metal from the Group’s own supplies and 325,000,000 kg from outside suppliers. The increase in scrap metal sales had to do with both the market expansion (+3% compared with the first half of 2015) and ChTPZ Group’s Pervouralsk New Pipe Plant’s increased demand (+5%).

‘Domestic demand for scrap metal dropped a bit at the start of the year, with export prices decreasing below the lowest of the year 2008 (Russian 3A scrap metal got sold to Turkey for $176/tn (cfr)). Throughout March to May, however, both the home and the international markets grew in terms of both prices and supply volumes, so things smoothed out somewhat by June,’ says META Director-General Andrei Pavlov.
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