The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region decreased by $11/mt to $234/mt fob on Monday, while the index in the Black Sea region declined by $7/mt to $245/mt fob.
Trading activity in Russia’s ferrous scrap export market was sluggish. The only reported sale occurred early last week in Rostov-on-Don at $270/mt cfr Turkey for HMS 1&2 (90:10). However, by the end of the week, the COVID-19 outbreak had rendered Turkish mills completely silent.
Some suppliers from St. Petersburg offered HMS 1&2 (80:20) at $270/mt cfr to Turkey, but bids were lower at $260-265/mt cfr. There are no deals to report so far.
Although the scrap export market is bearish, suppliers raised collection price because the ruble devalued significantly against the US dollar. Consequently, the weekly Davis Index for HMS 1&2 (80:20) or A3 scrap increased by Rub550/mt ($7/mt) in St. Petersburg dock to Rub14,900/mt delivered on Monday and by Rub200/mt ($3/mt) in Rostov-on-Don dock to Rub14,050/mt delivered.
$1 = RUB73.96