The weekly Davis Indexes for HMS 1&2 (80:20) or A3 scrap in the Baltic Sea and the Black Sea regions of Russia were flat at $454/mt fob and $458/mt fob, respectively, on Monday due to the lack of trading.
No sales from Russia were reported on weak demand for imported ferrous scrap in Turkey, with suppliers from St Petersburg who were offering HMS 1&2 (80:20) at $500-505/mt cfr not finding any takers as buyers dropped bids to $490-495/mt cfr after booking the same grade at around $500/mt cfr from the USA around 10 days ago.
Some exporters from Rostov-on-Don reduced their offers for A3 material to $475/mt from $485/mt cfr last week but failed to attract buyers at those prices.
Russia’s collection prices remained at previous levels in a subdued export market. The weekly Davis Index for A3 scrap was flat at RUB27,475/mt delivered St Petersburg dock and at RUB24,475/mt delivered Rostov-on-Don dock on Monday.
($1=RUB73.13)