The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by $8/mt to $393/mt fob Baltic Sea and by $5/mt to $400/mt fob Black Sea on Monday due to sluggish demand.
Trading in the Russian export ferrous scrap market was subdued in the second week of August on scarce inquiries from Turkey. Bids for HMS 1&2 (80:20) from St Petersburg were heard at around $450/mt cfr following an Izmir-based mill’s purchase of the same grade from Estonia at $455/mt cfr.
Scrap availability from Rostov-on-Don to Turkey was limited as most exporters stepped back and focused on sales in the domestic market, where they found more attractive prices.
Scrap collection remained anemic in Russia, though the weekly Davis Index for A3 scrap declined by RUB250/mt to RUB22,975/mt delivered St Petersburg dock and remained flat at RUB22,700/mt delivered Rostov-on-Don dock.
($1 = RUB73.26)