The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region decreased by $5/mt to $256/mt fob on Monday and declined by $1/mt to $262/mt fob Black Sea amid lower demand on export.

 

Trading activity remained low in the Russian ferrous scrap export market over the past seven days as Turkish bids dwindled. The only deal that closed was from Rostov-on-Don at $281/mt cfr Turkey for A3 material on Monday. Prices declined by $3/mt from the previous sale.

 

A supplier from St Petersburg offered a cargo to Turkey with HMS 1&2 (80:20) at around $287/mt cfr last week, but most buyers were uninterested. This week, exporters began expecting Turkish mills to target a price decrease for scrap because they booked significant tonnages in late July – early August.

 

The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by RUB625/mt at St Petersburg dock to RUB17,025/mt delivered on Monday as most exporters require material for their cargoes and are still ready to pay a premium of RUB200-300/mt for supply of 100mt and more.

 

The weekly Davis Index for A3 scrap was flat at RUB14,900/mt delivered at Rostov-on-Don dock as the export market sentiment softened.

 

($1 = RUB73.62)

Leave a Reply

Your email address will not be published.