The weekly Davis Index for HMS 1&2 (75:25) in the ARAG declined by €3/mt ($3/mt) to €147/mt delivered dockside on Tuesday.
Dockside ferrous scrap prices continue to decrease in the Netherlands and Belgium, but at a slower pace because of anemic inflow of the material. Scrap generation of prime grades is low as many automotive factories suspended operations due to COVID-19. Demolition is sluggish as well.
Some small scrap yards in Europe suspended operations amid the pandemic, while others cut down on their work timings, which impacted scrap collection volumes. Considering all these reasons, market participants estimate scrap collection in Europe has fallen by at least 40pc.
Demand for European scrap remains weak on export, specifically in Turkey, but offers are scarce too as many suppliers prefer to step back.
The Davis Index for HMS 1 in the ARAG dropped by €3/mt ($3/mt) to €157/mt delivered dockside on Tuesday, while the index for bonus scrap was flat at €165/mt delivered dockside.
(€1 = $1.10)