The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap increased by $10/mt to $389/mt fob Baltic Sea and by $11/mt to $381/mt fob Black Sea on Monday amid new bookings.
Trading strengthened in the Russian exported ferrous scrap market with a supplier from St Petersburg selling HMS 1&2 (80:20) at $426/mt cfr, and shredded scrap and bonus material at $436/mt cfr to a Turkish mill last week. The previous transaction for HMS 1&2 (80:20) was finalized at $420-425/mt cfr.
In Rostov-on-Don, a new deal was fixed at $407/mt cfr Turkey for A3 scrap compared to $405/mt cfr a week ago.
Turkish importers accepted only a slight increase in prices, but lower freight rates worked in sellers’ favor.
The weekly Davis Indexes for A3 scrap remained unchanged at RUB22,875/mt delivered St Petersburg dock and RUB22,150/mt delivered Rostov-on-Don dock on Monday. Some exporters claimed that collection slowed down last week.
($1=RUB74.86)