The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region increased by $4/mt to $235/mt fob on Monday, while the index in the Black Sea region slid by $1/mt to $230/mt fob.
Russian suppliers made two scrap ferrous sales to Turkey last week. An exporter from St Petersburg closed a deal at $255/mt cfr Iskenderun for HMS 1&2 (80:20), while a supplier from Rostov-on-Don reached an agreement at $257/mt cfr Karadeniz for HMS 1&2 (90:10).
Negotiations were slow in the Russian export scrap market on Monday. Some suppliers expect sales at $255-260/mt cfr Turkey for Russian material, citing its limited availability, while others believe $250/mt cfr to be a more realistic price because the market has started to soften and prices could decline to that level as demand in Turkey weakens.
Collection prices have increased in Russia, but inflow of scrap remains slow due to measures against COVID-19. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by Rub600/mt ($8/mt) in St Petersburg dock to Rub14,500/mt delivered on Monday, and by Rub1,150/mt ($15/mt) in Rostov-on-Don dock to Rub12,650/mt delivered.
($1 = RUB74.45)