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 dropped by $13/mt to $253/mt fob Baltic Sea and by $11/mt to $260/mt fob Black Sea on Monday amid a strong negative sentiment in the export market.


No sales were reported in the Russian ferrous scrap export market towards September-end, October-beginning as demand from foreign outlets was sluggish. Turkish mills, the key buyers, were inactive, expecting prices to drop to $280-285/mt cfr for HMS 1&2 (80:20) from St Petersburg and Rostov-on-Don. 


Some Russian suppliers offered the material at $293-295/mt cfr last week, but the negotiations did not result in deals due to a wide gap between bids and offers.


Collection prices fell in Russia amid a bearish export market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by RUB625/mt ($8/mt) to RUB17,225/mt delivered St Petersburg dock on Monday and dropped by RUB600/mt ($8/mt) to RUB15,400/mt delivered Rostov-on-Don dock.


($1 = RUB78.28)

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