The weekly Davis Index for Russian HMS 1&2 (80:20) or A3 scrap decreased by $17/mt to $232/mt fob Baltic Sea and by $5/mt to $236/mt fob Black Sea on Monday on bearish export markets.
Russian ferrous scrap suppliers are under pressure, because Turkish importers—their main buyers—are delaying purchases as they await discounts. Market participants estimate prices for HMS 1&2 (80:20) or A3 scrap both for deep-sea cargoes from St. Petersburg and short-sea cargoes from Rostov-on-Don vary in the range of $260-265/mt cfr Turkey.
Some cargoes are available for export from St. Petersburg amid a lack of sales and alternatives for exporters for more than a month. Offers from Rostov-on-Don are limited as better domestic market conditions prevail.
The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap at St. Petersburg dock dropped by Rub625/mt ($10/mt) to Rub13,225/mt delivered on Monday and by Rub600/mt ($9/mt) to Rub14,100/mt delivered at Rostov-on-Don dock. Collection prices for scrap in Russia decreased but not enough for export sales from Rostov-on-Don.
US$1 = 63.72 RUB as on Feb 3, 2020.