The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region rose by $18/mt to $408/mt fob on Monday and by $24/mt to $419/mt fob Black Sea amid higher prices in new transactions.
Business activity revived significantly at the end of February as some Russian exporters decided to sell to Turkey, where scrap demand was strong, and prices reached acceptable levels. Thus, a supplier from St Petersburg closed a deal with a Turkish mill at $452.50/mt cfr for HMS 1&2 (80:20) and at $462.50/mt cfr for bonus material. A day earlier, a recycler from Kaliningrad agreed to ship HMS 1&2 (80:20) at around $450/mt cfr Turkey.
Trading also resumed in Rostov-on-Don, where one exporter sold a cargo of A3 scrap at $452/mt cfr Turkey.
Turkish importers are still actively looking for the material, so Russian suppliers raised their targets to a minimum of $460/mt cfr for HMS 1&2 (80:20).
Collection prices for ferrous scrap increased in Russia in a firm export market. As a result, the weekly Davis Index for A3 scrap jumped by RUB2,325/mt ($31/mt) to RUB25,850/mt delivered St Petersburg dock and by RUB1,250/mt ($17/mt) to RUB21,350/mt delivered Rostov-on-Don dock.
($1 = RUB74.01)