The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €10/mt ($12/mt) to €313/mt delivered dockside on Tuesday following deals at lower prices.
Ferrous scrap exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) dropped collection prices after accepting lower prices in deals with Turkish mills. Early last week, a German supplier sold HMS 1&2 (75:25) at $421/mt cfr, followed by recyclers from the Netherlands selling HMS 1&2 (80:20) at $416-417/mt cfr later in the week.
Prices for HMS 1&2 (80:20) are expected to rebound to at least $420/mt cfr Turkey this week as demand for scrap improves in the Turkish market. However, Turkish mills are still targeting $410-415/mt cfr for the grade.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also decreased by €10/mt ($12/mt) to €323/mt delivered dockside and €328/mt delivered, respectively, on Tuesday.