The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia was flat at $248/mt fob Baltic Sea on Monday, while the index went up by $12/mt to $258/mt fob Black Sea.

 

Trading activity revived in Russia’s export scrap market as most suppliers decided to sell on doubts of further price increase in the Turkish market as orders for March shipments are about to end.

 

Exporters from Rostov-on-Don signed several contracts with A3 scrap sold at $277-280/mt cfr Turkey last week versus $269/mt cfr in the prior week. HMS 1&2 (90:10) was traded at $283/mt cfr Turkey.

 

Suppliers from St. Petersburg also closed some deals, but most of them were kept confidential. According to market participants, HMS 1&2 (80:20) was traded at $275-279/mt cfr Turkey.

 

Collection prices moved higher in Russia after sales to Turkey. The weekly Davis Index for A3 scrap in St. Petersburg dock increased by Rub350/mt ($5/mt) to Rub13,650/mt delivered on Monday and rose in Rostov-on-Don dock by Rub300/mt ($5/mt) to Rub13,600/mt delivered.

 

($1 = RUB 65.37)

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