The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap from Russia climbed by $1/mt to $274/mt fob Baltic Sea on Monday and inched up by $2/mt to $275/mt fob Black Sea amid several transactions.
The Russian export ferrous scrap market saw active trading in the past week. Two suppliers from St Petersburg sold material to Turkey. One of them closed a deal with an Iskenderun-based mill at $300/mt cfr for HMS 1&2 (80:20) and at $310/mt cfr for bonus material on Wednesday, while the other was heard to reach an agreement with an Izmir-based mill at $298.75/mt cfr for HMS 1&2 (80:20) and at $308.75/mt cfr for bonus scrap on Thursday.
An exporter from the north of Russia (Arkhangelsk or Murmansk) also sold 17,000mt of HMS 1&2 (95:5) at $310/mt cfr to an Iskenderun-based mill early last week.
Scrap demand in Turkey seems bleak since the onset of this week as buyers expect lower prices. Offers from Russia too, are scarce, as suppliers either sold their cargoes or decided to withdraw offers and wait, believing that prices of HMS 1&2 (80:20) will rebound to $305/mt cfr as soon as Turkish mills resume purchases.
No sales were reported from Rostov-on-Don to Turkey last week, but one exporter from this region sold a cargo of A3 scrap to Greece at $298/mt cfr.
Collection prices rose in the Russian market after recent export sales. The weekly Davis Index for HMS 1&2 (80:20) jumped by RUB700/mt ($9/mt) in the St Petersburg dock to RUB18,250/mt delivered on Monday and by RUB400/mt ($5/mt) to RUB15,600/mt delivered in Rostov-on-Don.
($1 = RUB75.23)