The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €7/mt ($8/mt) €187/mt delivered dockside on Tuesday, as the export market outlook remained negative.
Dockside ferrous scrap prices continued to decrease in the Netherlands and Belgium on weak export demand, and buyers, especially in Turkey, who insist on lower prices. Some European suppliers offered HMS 1&2 (80:20) at around $250/mt cfr to Turkey, while importers showed minimal interest in cooperating.
There were only three deep-sea cargo bookings last week reported in Turkey, one of which was heard to be from Belgium at an average price of $252.50/mt cfr for 20,000mt of HMS 1&2 (75:25), 10,000mt of shredded, and 10,000mt of bonus material.
The Davis Indexes for HMS 1 and for bonus scrap in the ARAG region both dropped by €6/mt ($7/mt) to €197/mt delivered dockside and at €203/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.12)