Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by $12/mt to $340/mt fob Baltic Sea and by $18/mt to $341/mt fob Black Sea on Monday as buyers in the export market accepted higher prices.


Russian suppliers sold several ferrous scrap cargoes to foreign outlets. A seller from St Petersburg closed a deal with a Turkish steelmaker at $370/mt cfr for HMS 1&2 (80:20) and at $380/mt cfr for bonus material at the end of last week. Two days before that transaction, another recycler from St Petersburg reached an agreement with a Turkish integrated mill at $358/mt cfr for HMS 1&2 (80:20), at $368/mt cfr for bonus material, and at $373/mt cfr for rails. 


Demand for scrap in Turkey exceeds its supply significantly at present because of which, exporters are achieving higher prices with every sale. This week, suppliers from St Petersburg and Rostov-on-Don expect prices for HMS 1&2 (80:20) to reach $380-385/mt cfr in Turkey.


An exporter from Far East Russia sold a cargo of A3 scrap at $358/mt cfr to a South Korean mill last week because of which, the price jumped by $29/mt in this outlet.


Collection prices for ferrous scrap increased further in Russia on Monday. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by RUB850/mt ($12/mt) to RUB21,325/mt delivered St Petersburg dock and by RUB1,150/mt ($16/mt) to RUB20,350/mt delivered Rostov-on-Don dock.


($1 = RUB73.47)

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