The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by $9/mt to $265/mt fob Baltic Sea on Monday and dropped by $7/mt to $268/mt fob Black Sea amid a weak export market.

 

Trading activity was slow in the Russian ferrous scrap export market and the only deal closed was at $303/mt cfr South Korea for around 80,000mt of A3 material from Far East Russia last week.

 

Demand at other outlets was sluggish. Turkish mills, especially, suspended scrap purchases over a week ago, anticipating lower prices due to a slowdown in rebar sales. Most Russian exporters were firm in mid-September, but now expect a price decrease to $290-295/mt in Turkey for A3 scrap from St Petersburg and Rostov-on-Don. The most recent contracts were signed at $298.75-300/mt cfr for HMS 1&2 (80:20) from St Petersburg around 10 days ago.

 

Collection prices remained unchanged in the Russian scrap market. The weekly Davis Index for A3 scrap remained at RUB18,250/mt ($239/mt) delivered to St Petersburg dock on Monday and at RUB15,600/mt ($204/mt) delivered to Rostov-on-Don dock.

 

($1 = RUB76.31)

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