The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap surged by $40/mt to $448/mt fob Baltic Sea and by $50/mt to $444/mt fob Black Sea on Monday in a robust export market.
Russian ferrous scrap exporters targeted higher prices, anticipating further purchases in Turkey this week after mills at this destination sold significant tonnages of rebar. Suppliers from St Petersburg expect prices for HMS 1&2 (80:20) to reach $500-510/mt cfr Turkey after Turkish mills raised offers for rebar to $740-750/mt fob. Exporters from Rostov-on-Don began targeting $490-500/mt cfr Turkey for A3 material.
The weekly Davis Index for A3 scrap increased by RUB750/mt in St Petersburg dock to RUB23,625/mt delivered on Monday and declined by RUB250/mt to RUB21,900/mt delivered in Rostov-on-Don dock.
($1 = RUB74.19)