The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region declined by $2/mt to $254/mt fob on Friday and slid by $1/mt to $261/mt fob in the Black Sea region as the export market sentiment worsened.

 

Demand for Russian ferrous scrap export has decreased since the second week of August. Most suppliers did not receive any inquiries from Turkish mills that are looking for lower-priced imports amid difficulties with rebar sales. Importers started to bid below $280/mt cfr for US-origin HMS 1&2 (80:20), down by $5/mt minimum from the most recent deals, and are expected to target the same level for Russian material.

 

The only sale from Russia was done and reported on Monday at $281/mt cfr for A3 scrap from Rostov-on-Don. Overall, negotiations have been slow over the past two weeks. 

 

The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap was flat at RUB17,025/mt delivered St Petersburg dock on Friday. Scrap inflow is sluggish, while most exporters require tonnages to complete their cargoes. However, they are still paying a premium of RUB200-300/mt for supply of 100mt and more.

 

The weekly Davis Index for A3 scrap rose by RUB300/mt to RUB15,200/mt delivered Rostov-on-Don dock amid slow collection and currency fluctuations.

 

($1 = RUB74.85)

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