The weekly Davis Index for EU ARAG HMS 1&2 (75:25) ferrous scrap decreased by €3/mt ($3.28/mt) to €196/mt delivered dockside on Tuesday.
The Davis Index for HMS 1 declined by €5/mt to €203/mt delivered dockside while the Index for Bonus (Plate & Structural) ferrous scrap dropped by €8/mt to €210/mt delivered dockside over the same period.
Collection rates have slowed down in response to relatively lower dockside buying prices in recent weeks, according to market participants from some northern continental Europe-based scrap export yards. However, these lower rates along with recovering Turkish ferrous scrap import prices have also limited the extent of further successive declines.
A robust local and export demand for premium obsolete scrap grades partially dissipated over the past week, removing further price support from this material.