The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region increased by $2/mt to $410/mt fob on Monday and by $3/mt to $422/mt fob Black Sea amid higher offers.
The gap in offers between Russian exporters and those from other Baltic countries prevented deals despite negotiations last week. Sellers in St Petersburg were asking $465/mt cfr for HMS 1&2 (80:20), prompting Turkish buyers to purchase the grade from other Baltic countries at $458.50-461/mt cfr.
In the Azov-Black Sea basin too, Turkish mills preferred to purchase several cargoes of HMS 1&2 (80:20) from Romania at $430-440/mt cfr, after suppliers in Rostov-on-Don raised offers to Turkey to $460-465/mt cfr for A3 material.
Russian exporters plan to continue negotiations this week as they believe that Turkish mills will look to book scrap for April shipment.
Collection prices for ferrous scrap continued to trend up at Russian docks. Thus, the weekly Davis Index for A3 scrap rose by RUB200/mt ($3/mt) to RUB26,050/mt delivered St Petersburg dock and by RUB1,250/mt ($17/mt) to RUB22,600/mt delivered Rostov-on-Don dock.
($1 = RUB74.50)