The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap increased by $3/mt to $263/mt fob Baltic Sea and by $1/mt to $267/mt fob Black Sea on Monday as buyers in the export market accepted higher prices.
Russian suppliers sold several ferrous scrap cargoes to Turkey in late-October. An exporter from St Petersburg closed a deal with an Iskenderun-based mill at $292.50/mt cfr for 9,000mt of HMS 1&2 (80:20), along with 8,000mt of shredded scrap at $297.50/mt cfr and 4,000mt of bonus material at $302.50/mt cfr. The cargo is due for shipping before Dec 5. According to market participants, the seller plans to supply shredded scrap to Turkey after acquiring a new yard with equipment that includes a shredder, slated to be restarted in November.
An exporter from Rostov-on-Don reached an agreement with a Karadeniz-based mill at $292/mt cfr for around 3,000mt of A3 material.
Russia witnessed a quiet Monday in the export scrap market, as buyers and sellers decided to see how the market pans out after some active trading in the last week of October.
Collection prices have seen an uptick in Russia, considering recent sales. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap climbed by RUB75/mt ($1/mt) to RUB17,700/mt delivered St Petersburg dock on Monday and rose by RUB700/mt ($9/mt) to RUB17,300/mt delivered Rostov-on-Don dock.
($1 = RUB80.48)