The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region decreased by $12/mt to $228/mt fob on Monday, and declined by $3/mt to $232/mt fob in the Black Sea region amid higher freight rates.
In spite of some negotiations in Russia’s ferrous scrap export market, no deals were reported last week. Turkish importers tried buying HMS 1&2 (80:20) from St Petersburg for $252-254/mt cfr—the cfr base was more or less unchanged—but suppliers’ fob prices decreased significantly as freight rates increased to a minimum of $25/mt for 30,000mt-cargo, which is why most of exporters insisted on higher cfr prices.
One Turkish mill was actively looking for a cargo from Rostov-on-Don, bidding $255/mt cfr for A3 scrap, but most suppliers refused to sell, referring to better prices in their domestic markets. Sellers estimated that an acceptable price to Turkey would be around $260/mt cfr.
Collection prices in Russia decreased last week. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap dropped by RUB350/mt ($5/mt) in St Petersburg dock to RUB14,850/mt delivered on Monday, and by RUB150/mt ($2/mt) to RUB13,500/mt delivered in Rostov-on-Don dock.
($1 = RUB70.57)