The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap jumped by $18/mt to $328/mt fob Baltic Sea and by $20/mt to $323/mt fob Black Sea on Monday on a bullish export market.
Limited availability of the material resulted in sporadic ferrous scrap sales from Russia to foreign outlets in the last week of November. A South Russian exporter closed a deal at $346/mt cfr for A3 with a Turkish mill, while a supplier from the country’s far eastern region reached an agreement at $329/mt cfr for the same grade with a South Korean steelmaker. Both transactions were fixed around the middle of last week.
Sellers from St Petersburg and Rostov-on-Don raised offers to $360/mt cfr Turkey for HMS 1&2 (80:20) early this week, considering a sale from the UK at $350/mt cfr for the same grade at the end of last week.
Collection prices increased further in Russia amid the uptrend in the export market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by RUB400/mt ($5/mt) to RUB20,475/mt delivered St Petersburg dock on Monday and jumped by RUB1,350/mt ($18/mt) to RUB19,200/mt delivered Rostov-on-Don dock.
($1 = RUB76.20)