The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap rose by $2/mt to $378/mt fob Baltic Sea and by $4/mt to $385/mt fob Black Sea on Monday amid improving demand from foreign outlets.
The market began seeing signs of a rebound, despite the lack of reported ferrous scrap sales from Russia to Turkey last week, after Turkish mills resumed bookings for April and May shipments. Russian suppliers are now targeting a minimum of $427/mt cfr Turkey for HMS 1&2 (80:20) after a US exporter fixed a deal at that level.
A recycler from Far East Russia sold around 35,000mt of A3 material at $425/mt cfr to a South Korean mill last week.
Collection prices declined further in Russia due to the lack of deals. The weekly Davis Index for A3 scrap slid by RUB125/mt ($2/mt) to RUB23,700/mt delivered St Petersburg dock on Monday and by RUB250/mt ($3/mt) to RUB21,600/mt delivered Rostov-on-Don dock.