The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap from Russia’s Baltic Sea and Black Sea regions increased by $17/mt and by $10/mt, respectively. Both indexes settled at $395/mt fob on Monday.
Ferrous scrap exporters in St Petersburg believe that $430-435/mt cfr for HMS 1&2 (80:20) is achievable in Turkey as there were several bookings within the range from other Baltic countries last week. Some Russian exporters are negotiating sales as demand persists in Turkey after strong rebar and billet trading. A few recyclers are aiming for at least $440/mt cfr for HMS 1&2 (80:20) for June shipment cargoes, considering rebar prices at around $640/mt fob.
Offers from Rostov-on-Don remain scarce amid limited scrap flows and unattractive prices for most sellers at foreign outlets.
The weekly Davis Index for A3 scrap was flat at RUB23,375/mt delivered St Petersburg dock on Monday and rose by RUB550/mt ($7/mt) to RUB22,150/mt delivered Rostov-on-Don dock.
($1=RUB77.42)