The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region increased by $8/mt to $247/mt fob on Monday and rose by $11/mt to $250/mt fob in the Black Sea region amid higher sales prices.
Business activity revived significantly in Russia’s ferrous scrap market last week as most exporters decided to sell to Turkey where scrap demand remains high, with two suppliers from St Petersburg closing deals at $266-267/mt cfr for HMS 1&2 (80:20). Offers from Russia rose to $275/mt cfr Turkey, early this week, in line with those from exporters from other Baltic countries.
Targets from suppliers from Rostov-on-Don moved to above $270/mt cfr this week on healthy demand in Turkey, while a contract from the region was signed at $269/mt cfr Turkey for A3 scrap last week.
Two transactions were also reported from the north of Russia (Murmansk and Arkhangelsk), where exporters reached agreements with Turkish mills at $273-275/mt cfr for HMS 1&2 (95:5).
Collection prices for ferrous scrap moved up in Russia due to the active exports market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by RUB200/mt ($3/mt) in St Petersburg dock to RUB15,000/mt delivered on Monday and by RUB250/mt ($3.50/mt) to RUB13,750/mt delivered in Rostov-on-Don dock.
($1 = RUB71.79)