Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap surged by $21/mt to $310/mt fob Baltic Sea and by $22/mt to $303/mt fob Black Sea on Monday amid a robust export market.


Russian ferrous scrap exporters targeted higher prices, anticipating further purchases in Turkey this week after mills at this destination sold significant tonnages of rebar for January and rebar prices surpassed $500/mt fob (ex-works). Some Turkish mills even started steel product sales for February. Suppliers from St Petersburg expect Turkish deals at $340-345/mt cfr for HMS 1&2 (80:20), considering offers from the USA are close to $350/mt cfr for the same grade.


Exporters from Rostov-on-Don raised offers to Turkey to $335/mt cfr for A3 material, while the most recent transaction was reported at $328/mt cfr in the middle of last week.


Collection prices increased significantly in Russia amid the bullish export market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap jumped by RUB1,500/mt ($20/mt) in St Petersburg dock to RUB20,075/mt delivered on Monday and rose by RUB350/mt ($5/mt) to RUB17,850/mt delivered in Rostov-on-Don dock. Two suppliers from St Petersburg were loading cargoes to Turkey last week.


($1 = RUB76.35)

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