Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region decreased by $6/mt to $238/mt fob on Friday and dropped by $5/mt to $232/mt fob in the Black Sea region amid a bearish export market.


Russia’s export ferrous scrap market was under pressure as demand in Turkey remained weak, with mills, challenged by low steel product sales, insisting on lower prices. Bids in Turkey for A3 scrap from Rostov-on-Don were reported at $245-250/mt cfr Turkey early in the week, but mills withdrew them later in the week on expectations of lower prices after achieving a price decrease in deals from other destinations. The daily Davis Index for US-origin HMS 1&2 (80:20) was $251.47/mt cfr in Turkey on Friday versus $260/mt cfr a week ago.


Scrap suppliers from St Petersburg did not receive any bids from Turkey and the week went without negotiations.


Collection prices remained firm in Russia as all exporters required material to complete their cargoes under existing contracts with Turkish mills mainly for July shipment. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap inched up by Rub100/mt ($1/mt) in St Petersburg dock to Rub15,250/mt delivered on Friday, but held at Rub13,650/mt delivered in Rostov-on-Don dock.


($1 = RUB69.74)

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