The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region declined by $1/mt to $232/mt fob on Monday, while the index in the Black Sea region increased by $5/mt to $225/mt fob.
Some Russian ferrous scrap suppliers successfully reached agreements with Turkish buyers before the latter could start insisting on lower prices at the end of last week. An exporter from Rostov-on-Don traded three cargoes of A3 material (13,000mt in total) at $245-248/mt cfr to a Turkish mill approximately in the middle of last week.
A seller from the Baltic region (most probably from Kaliningrad) was heard to have closed a deal with a Turkish mill at $252/mt cfr for HMS 1&2 (80:20).
Turkish producers are targeting lower prices for imported scrap now because rebar prices are going down. Bids are reported at around $240/mt cfr for Russian HMS 1&2 (80:20), this week.
The weekly Davis Index for A3 scrap in St Petersburg dock rose by RUB400/mt ($5/mt) to RUB15,000/mt delivered on Monday. Exporters raised collection prices last week expecting further price increase in the Turkish market but were surprised with a reversal of the trend at the end of the week.
The weekly Davis Index for A3 scrap in Rostov-on-Don dock remained at RUB13,500/mt delivered.
($1 = RUB72.82)