The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap fell by $16/mt to $379/mt fob Baltic Sea and by $25/mt to $370/mt fob Black Sea on Monday amid new transactions.
Like suppliers from other countries, Russian ferrous scrap exporters accepted lower prices in sales to Turkey due to oversupply in that market. Offers for the grade were reported at around $435/mt cfr and above early last week but a deal in St Petersburg was heard at $420-425/mt cfr Turkey for HMS 1&2 (80:20) with Turkish importers planning to achieve a further price decrease this week.
In Rostov-on-Don, a deal with another Turkish mill was heard at around $405/mt cfr, while most suppliers were targeting $410-415/mt cfr.
The weekly Davis Index for A3 scrap dropped by RUB500/mt ($7/mt) to RUB22,875/mt delivered St Petersburg dock on Monday in a bearish export market, but remained unchanged at RUB22,150/mt delivered Rostov-on-Don dock.
($1=RUB76.32)