The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap from Russia rose by $5/mt to $259/mt fob Baltic Sea on Monday and increased by $10/mt to $271/mt fob Black Sea amid better demand.
Turkish mills, the largest ferrous scrap importers in the world, resumed purchases at the end of August for September and October shipments. Several bookings were reported in the Turkish market at higher prices, including from Russia last week. A supplier from Rostov-on-Don sold a cargo of HMS 1&2 (90:10) to Turkey at $290/mt cfr approximately in the middle of last week, while an exporter from St Petersburg sold HMS 1&2 (80:20) at $283/mt cfr and bonus scrap at $293/mt cfr early last week.
Most Russian suppliers plan to achieve $290-295/mt cfr for HMS 1&2 (80:20) in deals with Turkish mills at the beginning of September.
Collection prices continued their uptrend in the Russian market due to slow inflow. The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by RUB175/mt ($2/mt) in St Petersburg dock to RUB17,200/mt delivered on Monday and by RUB200/mt ($3/mt) to RUB15,400/mt delivered in Rostov-on-Don dock.
($1 = RUB74.08)