The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap declined by $1/mt to $434/mt fob Baltic Sea and by $3/mt to $435/mt fob Black Sea on Monday in a challenging export market.
Some Russian exporters are trying to negotiate with Turkish mills, which are insisting on discounts after they achieved lower prices in deals for American and European scrap. Buyers found enough offers for August shipment cargoes and dropped bids for HMS 1&2 (80:20) from St Petersburg and for A3 material from Rostov-on-Don to $485-490/mt cfr and $465-470/mt cfr, respectively.
Collection prices diverged in Russia depending on the region. The weekly Davis Index for A3 scrap decreased by RUB375/mt to RUB24,300/mt delivered St Petersburg dock on Monday but increased by RUB375/mt to RUB22,750/mt delivered Rostov-on-Don dock.
($1 = RUB74.39)