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 from Russia’s Baltic Sea and Black Sea regions increased by $7/mt and $11/mt, respectively. Both indexes settled at $437/mt fob on Monday.


Russian export ferrous scrap market was quiet at the beginning of this week as negotiations with Turkish importers were paused after most buyers stepped back. As a result, neither bids nor offers were heard on Monday. Last week suppliers from southern Russia made some sales with an increase in prices. A supplier from Rostov-on-Don closed a deal at $470/mt cfr Turkey for A3 material, while another exporter reached an agreement at $462/mt cfr Turkey for the same grade for prompt shipment.


There were no transactions reported from St Petersburg last week as most recyclers had sold their cargoes earlier.


Opinions vary in Russia about further price direction in the export market. Some suppliers expect the uptrend to continue after the New Year holidays, but others project a potential downward correction after such a huge surge. According to Davis Index data, prices in Baltic Sea and Black Sea regions have soared by $177/mt and $171/mt, respectively, over the past two months.


Collection prices diverged according to the region in the Russian market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap increased by RUB325/mt ($4/mt) to RUB24,525/mt delivered St Petersburg dock on Monday and decreased by RUB1,500/mt ($20/mt) to RUB19,950/mt delivered Rostov-on-Don dock.


($1 = RUB73.75)

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