The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by $12/mt to $411/mt fob Baltic Sea and $7/mt to $423/mt fob Black Sea on Monday following recent bookings.
Russian ferrous scrap exporters accepted lower prices and sold a few cargoes to Turkey last week. A recycler from St Petersburg was heard to have closed a deal at $471/mt cfr for HMS 1&2 (80:20) and at $486/mt cfr for bonus material for August shipment, while a supplier from Tolyatti was heard to have reached an agreement at around $462/mt cfr for HMS 1&2 (90:10). Offers from Rostov-on-Don were reported at $470/mt cfr Turkey for A3 scrap but were not attractive for importers, who are targeting below $460/mt cfr.
Scrap collection is slow in Russia, with the weekly Davis Index for A3 scrap dropping by RUB1,525/mt to RUB23,225/mt delivered St Petersburg dock and holding unchanged at RUB22,900/mt delivered Rostov-on-Don dock.
($1=RUB72.91)