The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €5/mt ($6/mt) to €208/mt delivered dockside on Tuesday amid an uptrend in the export market.
Collection prices for ferrous scrap rose in Europe as suppliers achieved higher prices in sales to Turkey. Some deals for HMS 1&2 (80:20) from the Netherlands and Belgium were reported at $282-283/mt cfr Turkey early last week. Most exporters are targeting offers of $290/mt cfr for the grade this week in anticipation of Turkish mills purchasing cargoes for October shipment.
The Davis Indexes for HMS 1 and for bonus scrap in the ARAG region both also rose by €5/mt ($6/mt) to €218/mt delivered dockside and €223/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.20)