The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region rose by €20/mt ($24/mt) to €323/mt delivered dockside on Tuesday with bullish exporters achieving higher prices in each consecutive deal.
Ferrous scrap suppliers from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) continued to raise collection prices amid active trading, limited availability of the material, and a firm uptrend in the global ferrous market.
The most recent sale from Europe to Turkey was fixed at $455/mt cfr for HMS 1&2 (80:20), at $470/mt cfr for shredded scrap, $465/mt cfr for bonus material, and $475/mt cfr for busheling on Dec 21. The total cargo amounts to 25,000mt and is due to be shipped in March.
Dutch and Belgian exporters expect further deals at $465-470/mt cfr for HMS 1&2 (75:25) and HMS 1&2 (80:20) amid persisting demand for ferrous scrap in Turkey. Offers from Europe are sporadic.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also rose by €20/mt ($24/mt) to €333/mt delivered dockside and €338/mt delivered, respectively, on Tuesday.
(€1 = $1.22)