The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by $13/mt to $450/mt fob Baltic Sea and by $9/mt to $446/mt fob Black Sea on Monday as exporters targeted higher prices.

 

Russian ferrous scrap suppliers came back after the holidays and increased their offers to Turkey after considering recent bookings from the US and Europe where US-origin HMS 1&2 (80:20) changed hands at $481-482/mt cfr Turkey in the second half of last week.

 

Thus, recyclers from St Petersburg and Rostov-on-Don are now asking $480-485/mt cfr Turkey for A3 material, while exporters from Murmansk and Arkhangelsk are offering HMS 1&2 (95:5) at $500/mt cfr. However, no deals at these prices have been reported so far. Turkish importers were silent on Monday and are expected to announce their bids later in the week.

 

Collection prices in Russia went up amid the firm export market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by RUB475/mt ($6/mt) to RUB25,000/mt delivered St Petersburg dock on Monday and by RUB1,800/mt ($24/mt) to RUB21,750/mt delivered Rostov-on-Don dock.

 

($1 = RUB74.57)

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