The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap inched up by $1/mt to $266/mt fob Baltic Sea on Monday and climbed by $3/mt to $271/mt fob Black Sea as demand improved.
No sales were reported in the Russian export ferrous scrap market last week, but sentiment improved slightly as Turkish importers became more active by the end of the week. Some Russian suppliers plan to resume negotiations at $295-300/mt cfr for HMS 1&2 (80:20) from St Petersburg this week, while bids from Turkey were reported at around $290/mt cfr.
Exporters from Rostov-on-Don prefer to wait and assess market conditions, before considering offers and future sales.
Collection prices diverged in the Russian market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by RUB400/mt ($5/mt) to RUB17,850/mt delivered St Petersburg dock on Monday and increased by the same amount to RUB16,000/mt delivered Rostov-on-Don dock.
($1 = RUB78.93)