The weekly Davis Index for ARAG HMS 1&2 (75:25) fell by €30/mt ($32/mt) to €150/mt delivered dockside on Tuesday amid a bearish outlook and a challenging export sales market.
Most Dutch and Belgian ferrous scrap exporters continue to reduce dockside prices as demand remains stagnant and prices decline quickly in the global market.
According to market participants, inflow of the material decreased from 30pc to 80pc depending on yards and negatively affected scrap collection in Europe.
The Davis Indexes for both, HMS 1 and P&S in the ARAG decreased by €30/mt ($32/mt) on Tuesday to €160/mt and €165/mt, respectively, delivered dockside.
(€1 = $1.08)