The weekly Davis Indexes for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea and Black Sea regions were unchanged at $383/mt fob and $395/mt fob, respectively, on Friday due to the lack of sales to Turkey.
Ferrous scrap exporters in St Petersburg estimate HMS 1&2 (80:20) prices at $445-450/mt cfr Turkey, though negotiations remained slow in the last week of August with no deals reported. A supplier from Murmansk, Arkhangelsk was offering HMS 1&2 (95:5) at around $475/mt cfr.
Sales from Rostov-on-Don to Turkey were also missing as buyers targeted below $440/mt cfr for A3 material, while most exporters considered such prices unacceptable and switched to sales in their domestic market.
In the meantime, there was some demand for scrap in Asia which resulted in a new transaction from the Far East of Russia to South Korea at $480/mt cfr for A3 material.
Collection prices diverged in Russia depending on the region. The weekly Davis Index for A3 scrap decreased by RUB400/mt to RUB22,575/mt delivered St Petersburg dock on Friday and increased by RUB400/mt to RUB23,100/mt delivered Rostov-on-Don dock.