Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap dropped by $21/mt to $380/mt fob Baltic Sea and by $24/mt to $381/mt fob Black Sea on Monday in a weak export market.


There were no ferrous scrap sales reported from Russia to Turkey at the end of January as importers insisted on lower rates due to falling steel product prices. Bids at lower prices were firm after buyers achieved lower prices for US material in several transactions. Turkish mills are looking for HMS 1&2 (80:20) at below $400/mt cfr, while Russian recyclers remain inactive.


Russian cargoes for foreign destinations are limited because of slow ferrous scrap collections and a rise in export duty to a minimum of €45/mt. Some suppliers are hopeful for a price rebound as they believe that Turkish importers are currently testing the market by bidding as low as possible but will resume purchases later in the week. In the meantime, a seller from the Far East of Russia closed a deal with a South Korean producer at $391/mt cfr for a cargo of A3 material.


Russian dock collection prices diverged depending on the region. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by RUB675/mt ($9/mt) to RUB23,675/mt delivered St Petersburg dock on Monday but increased by RUB900/mt ($12/mt) to RUB21,300/mt delivered Rostov-on-Don dock.


($1 = RUB76.10)

Leave a Reply

Your email address will not be published.