The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap in Russia’s Baltic Sea region decreased sharply by $34/mt to $200/mt fob on Monday, while the index declined even more in the Black Sea region—by $52/mt to $193/mt fob.
Ferrous scrap export sales from Russia to Turkey have been suspended. Most suppliers believe offering anything now is pointless because demand is extremely weak and buyers expect lower prices. There are rare bids from Turkish mills, which have been reported at $230/mt cfr for HMS 1&2 (80:20) from St Petersburg, and at $215-220/mt cfr for A3 scrap from Rostov-on-Don.
Last week, 90,000mt of A3 scrap from Russia’s Far East region was sold at $247/mt cfr to South Korea.
Since the downtrend in Russia’s ferrous scrap export market accelerated, collection prices have fallen. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by Rub1,000/mt ($12.50/mt) in St Petersburg dock to Rub13,900/mt delivered on Monday, and by Rub300/mt ($4/mt) in Rostov-on-Don dock to Rub13,750/mt delivered.
($1 = RUB79.85)