The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap slid by $1/mt to $252/mt fob Baltic Sea and was unchanged at $260/mt fob Black Sea on Monday.
Only two transactions were reported in the Russian ferrous scrap export market amid sluggish trading as suppliers and buyers remained at loggerheads over transaction prices. In one deal an exporter from St Petersburg traded HMS 1&2 (80:20) at $279.50/mt cfr and bonus material at $289.50/mt cfr to a Turkish mill for November shipment. The second deal was closed from the Far East of Russia at $286/mt cfr for 30,000mt of A3 scrap with a South Korean mill for November arrival.
Many suppliers from Rostov-on-Don received bids from Turkey at $280/mt cfr for A3 scrap after buyers became active by the end of last week, but exporters refused to sell at that rate as they anticipate a rebound in prices soon.
Collection prices were also almost unchanged in the Russian market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap declined by RUB150/mt ($2/mt) to RUB17,075/mt delivered in St Petersburg dock on Monday and was flat at RUB15,400/mt delivered in Rostov-on-Don dock.
($1 = RUB77.07)