The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region increased by $15/mt to $233/mt fob on Monday and rose by $10/mt to $220/mt fob in the Black Sea region.
Business activity was low in the Russian ferrous scrap market amid holidays in the country, however, export demand, especially in Turkey, improved significantly. Bids from Turkish mills for HMS 1&2 (80:20) from St Petersburg moved up to $250/mt cfr, while bids for A3 from Rostov-on-Don increased to $240-245/mt cfr versus $230-235/mt cfr for both the regions a week ago.
Some Russian scrap suppliers plan to resume negotiations with Turkish importers later this week that could result in sales. Exporters expect this uptrend to continue.
Collection prices in Russia have remained stable amid holidays. On Monday, the weekly Davis Indexes for A3 scrap were flat in both St Petersburg and Rostov-on-Don docks at Rub14,600/mt ($198/mt) delivered and Rub13,500/mt ($183/mt) delivered, respectively.
($1 = RUB73.61)