The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €23/mt ($25/mt) to €170/mt delivered dockside on Tuesday, as market sentiment improved.
European ferrous scrap suppliers have raised dockside prices because demand and export trading activity have risen. A seller from Belgium achieved a significant price increase in Turkey, selling 10,000mt of HMS 1&2 (75:25) for $235/mt cfr, 20,000mt of shredded scrap for $243/mt cfr, 4,000mt of P&S at $248/mt cfr, and 6,000mt of busheling at $253/mt cfr on April 3. Turkish buyers are active this week and exporters intend to achieve higher prices on their next deals.
However, ferrous scrap collection in the Netherlands and Belgium remains sluggish because of the automotive industry and demolition sector slowdowns, which were caused by COVID-19. As a result, there is limited availability of European cargoes for export.
The Davis Index for HMS 1 in the ARAG region increased by €23/mt ($25/mt) to €180/mt delivered dockside on Tuesday, while the index for bonus scrap rose by €20/mt ($22/mt) to €185/mt delivered dockside.
(€1 = $1.09)