Russian ferrous scrap export prices dropped Monday on weak market sentiment.
A3/HMS 1&2 (80:20) dock prices dropped amid a challenging rebar sales environment in Turkey, which imports the lion’s share of A3 scrap shipments from Russia.
The weekly Davis Index for A3 scrap dropped by $2/mt to $271/mt fob Baltic Sea and by $4/mt to $272/mt fob Black Sea on Jan 13.
The only Russian deal reported to Turkey during the week was for 3,000mt of A3 scrap sold at $297/mt cfr Marmara by a Rostov-on-Don exporter. Scrap export volumes to Turkey have dropped so far this month as Turkish importers have opted for more competitively priced European scrap.
Still, Russian dockside collection prices were kept flat as suppliers are still to resume negotiations after Russian Christmas holidays which ended this past weekend.
The weekly Davis Index for A3 scrap dock collection prices was flat at Rub14,525/mt delivered St Petersburg dock on Jan 13, and remained unchanged at Rub14,400/mt delivered Rostov-on-Don dock.
1 USD = 61.33 RUB as on Jan 13, 2020