The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region declined by €3/mt ($4/mt) to €282/mt delivered dockside on Tuesday after prices dropped in the most recent deals in Turkey.
Collection prices for ferrous scrap decreased in the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) as Turkish importers achieved lower prices in bookings from the UK and the Baltic region late last week. Buyers also insisted on discounts from European suppliers, but most exporters refused to sell at lower levels.
Prices in the European export market have been trending down since mid-January, but the tide seems to be turning as demand for imported ferrous scrap has started improving in Turkey this week. Thus, Dutch and Belgian exporters expect transactions at $390-400/mt cfr for HMS 1&2 (75:25) and HMS 1&2 (80:20).
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both dropped by €3/mt ($4/mt) to €292/mt delivered dockside and €297/mt delivered, respectively, on Tuesday.
(€1 = $1.21)