The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region increased by $14/mt, while the index in the Black Sea region climbed by $2/mt. Both indices settled at $273/mt fob on Monday.
A bullish sentiment prevails in the Russian export ferrous scrap market as demand in Turkey has improved, and many mills need cargoes for October shipment. Some suppliers are now offering HMS 1&2 (80:20) or A3 material at $305-310/mt cfr Turkey.
Two sales from Russia were reported last week. In one, an exporter from St Petersburg closed a deal with a Turkish mill at $299/mt cfr for HMS 1&2 (80:20) and at $309/mt cfr for bonus scrap. The total cargo will amount 31,000mt. In another transaction, a supplier from Arkhangelsk sold 8,000mt of HMS 1&2 (95:5) at $306.5/mt cfr Turkey.
Collection prices rose or fell depending on the region in the Russian market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap increased by RUB350/mt ($5/mt) in St Petersburg dock to RUB17,550/mt delivered on Monday and dropped by RUB200/mt ($3/mt) to RUB15,200/mt delivered in Rostov-on-Don dock.
($1 = RUB75.94)