The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap from the Baltic Sea in Russia dropped by $7/mt to $225/mt fob on Monday with a sale to Turkey. The Index for A3 scrap also decreased by Rub500/mt ($8/mt) to Rub12,725/mt delivered at St Petersburg dock.
A St Petersburg supplier traded A3 scrap at $251/mt cfr and bonus material at $261/mt cfr to a Turkish mill early last week. Other exporters from this region believe that they can find buyers at $255-260/mt cfr for HMS 1&2 (80:20) due to better demand but are trying to achieve higher levels.
The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap from Black Sea went down by $7/mt to $229/mt fob with no deals reported amid difficult collection. The Davis Index for HMS 1&2 (80:20) or A3 scrap in Rostov-on-Don dock decreased by Rub700/mt ($11/mt) to Rub13,400/mt delivered.
Most market participants from Rostov-on-Don expect prices to rebound in the Turkish market in coming weeks and are therefore holding on to their inventory. The most recent bids from Turkey were reported at $255/mt cfr for A3 scrap.
US$1 = RUB64.14 as on Feb 10, 2020