The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €3/mt ($3/mt) to €200/mt delivered dockside on Tuesday.
Dockside ferrous scrap prices continue to tick up in Europe. Last week only some suppliers in the Netherlands and Belgium raised collection prices to €200/mt delivered, but others followed them this week amid persisting exports demand and active trading.
Demand for scrap remains high in Turkey, the key importing country, with some negotiations currently underway with European suppliers. This week, a Belgian supplier was heard to have closed a deal with a Turkish mill at an average price of $262/mt cfr for 20,000mt of HMS 1&2 (75:25), 2,500mt of shredded scrap and 12,500mt of HMS 1 and bonus material.
Several sales from the end of last week were reported. In one deal, a Belgian exporter sold 10,000mt of HMS 1&2 (75:25), 30,000mt of shredded scrap, P&S 5ft and busheling to a Turkish mill at an average price of $266/mt cfr. A German scrap collector sold HMS 1&2 (80:20) at $259.50/mt cfr, shredded scrap at $264.50/mt cfr and bonus material at $269.50/mt cfr.
The Davis Indexes for HMS 1 and for bonus scrap in the ARAG region both rose by €3/mt ($3/mt) to €208/mt delivered dockside and €214/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.13)