The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by $17/mt to $465/mt fob Baltic Sea and by $26/mt to $470/mt fob Black Sea on Monday following recent deals.
Trading in the Russian export market revived as prices reached new highs, with a St Petersburg supplier selling HMS 1&2 (80:20) at $500/mt cfr and bonus material at $510/mt cfr to a Turkish mill last week. A recycler from Murmansk closed a deal with another Turkish mill at $510/mt cfr for HMS 1&2 (95:5). A new transaction was also fixed from Rostov-on-Don to Turkey at $495/mt cfr for HMS 1&2 (90:10) last week.
The export market was quiet on Monday as participants evaluated the situation before resuming negotiations.
Collection prices for ferrous scrap increased in Russia in a firm export market with the weekly Davis Index for A3 scrap rising by RUB1,500/mt to RUB25,125/mt delivered St Petersburg dock and by RUB1,350/mt to RUB23,250/mt delivered Rostov-on-Don dock.
($1 = RUB73.88)