The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region dropped by €5/mt ($6/mt) to €205/mt delivered dockside on Tuesday amid a negative export market sentiment.
Dutch and Belgian ferrous scrap suppliers decreased collection prices due to sluggish sales with Turkish importers insisting on a maximum bid of $280/mt cfr for European-origin HMS 1&2 (80:20). Most exporters refused to sell at that rate, offering their material at a minimum of $5/mt more, but they chose to be cautious and cut dockside prices.
Negotiations are expected to continue this week as demand in Turkey has started to recover slowly.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both dropped by €5/mt ($6/mt) to €215/mt delivered dockside and €220/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.18)