The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap from Russia’s Baltic Sea and Black Sea regions were both unchanged at $437/mt fob on Monday.
The Russian export ferrous scrap market is quiet at the beginning of the year amid New Year and Christmas holidays. Many businesses in the region are closed until Jan 11.
Most Russian suppliers have already sold their cargoes to Turkey for January and February shipments, but export sales for further shipments are expected to decrease significantly after the Russian government approved an export duty of 5pc, but no lower than €45/mt on ferrous scrap. The new decree was signed on December 30, 2020, and will come into force within 30 days from that date.
Collection prices also remained at previous levels in the Russian market. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap was flat at RUB24,525/mt delivered St Petersburg dock and at RUB19,950/mt delivered Rostov-on-Don dock on Monday.
($1 = RUB73.52)