The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap declined by $3/mt to $435/mt fob Baltic Sea and remained unchanged at $438/mt fob Black Sea on Monday.
Some Russian suppliers chose to sell to Turkey at lower prices last week so that they could ship the material in July before the country’s new export duty of €70/mt comes into effect. An exporter from St Petersburg closed a deal with an Izmir-based mill at $495/mt cfr for HMS 1&2 (80:20) and a recycler from Arkhangelsk reached an agreement with a Marmara-based mill at $504.50/mt cfr for HMS 1&2 (95:5).
Suppliers from Rostov-on-Don refused to sell below $475/mt cfr Turkey, because of which, no transactions were reported despite numerous inquiries from mills in the second half of last week.
Collection prices fell in Russia with the weekly Davis Index for A3 scrap decreasing by RUB1,175/mt to RUB24,675/mt delivered St Petersburg dock and by RUB1,650/mt to RUB22,375/mt delivered Rostov-on-Don dock.
($1=RUB73.53)