January is a quiet month for Russian markets. Most of the players have holidays. However, recent positive price movements for nickel-content scrap and copper scrap forced some to restart their businesses early.
Most of the suppliers keep their stocks empty for long New Year holidays, and at the same time availability of scrap because of the cold weather (-24 degrees Celsius now in Moscow) is not good.
The Russian market sees many perspectives regarding conditions that could be announced upon entering the World Trade Organization (WTO).
For sure, export possibilities will be broader with integration to WTO. On the other hand, the Russian government still employs powerful instruments to restrict scrap exports if they deem it necessary. For example, on 13 January a Customs Order was issued saying that among all Far Eastern border points only one—a tiny and lost location in the forests port of Magadan with hardly any normal infrastructure—will be the point of export of scrap metals. In fact, this is a barrier for trading.
Ildar Neverov can be contacted at siberiametals@bk.ru.
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