The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by $5/mt to $258/mt fob Baltic Sea and by $3/mt to $263/mt fob Black Sea on Monday as Russian ferrous export activity revived.
Negotiations livened up in the Russian export ferrous scrap market last week as Turkish mills need cargoes for November shipment. Bids for HMS 1&2 (80:20) from St Petersburg varied in the range of $282-285/mt cfr Turkey, but no deals were reported as suppliers targeted higher levels.
One exporter from Rostov-on-Don agreed to sell HMS 1&2 (80:20) at $285/mt cfr Turkey early last week, while others plan to achieve close to $290/mt cfr this week.
A transaction for 20,000mt of A3 scrap at $281/mt cfr South Korea was also fixed in Far East Russia last week.
The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap increased by RUB275/mt ($3.50/mt) to RUB17,350/mt delivered St Petersburg dock on Monday and remained unchanged at RUB15,400/mt delivered Rostov-on-Don dock.
($1 = RUB77.56)