The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap from Russia’s Baltic Sea and the Black Sea regions increased by $11/mt and by $7/mt, respectively. Both indexes settled at $239/mt fob on Monday.
Ferrous scrap exporters from St Petersburg began offering HMS 1&2 (80:20) for $265/mt cfr Turkey and higher after a sale from Latvia at this level was reported. Russian suppliers believe that their target is achievable amid better demand in Turkey. Last week, a sale from Russia’s Baltic region was heard at $261.50/mt cfr for HMS 1&2 (80:20) to an Izmir-based mill.
Suppliers from Rostov-on-Don offer A3 scrap to Turkey also at $265/mt cfr, while bids vary in the range of $255-257/mt cfr. Sellers are firm on pricing amid limited availability of the material.
Collection prices in Russia remained almost unchanged last week. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap slid by RUB50/mt ($0.70/mt) in St Petersburg dock to RUB14,800/mt delivered on Monday and was flat in Rostov-on-Don dock at RUB13,500/mt delivered.
($1 = RUB71.41)