The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region dropped by €9/mt to €363/mt ($432/mt) delivered dockside on Tuesday in a challenging export market.
Collection prices for ferrous scrap decreased in the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) as Turkish importers remained inactive, anticipating lower prices. The inflow of material to European docks declined as the domestic market is still strong.
Negotiations with Turkish mills are slow with some European suppliers offering HMS 1&2 (80:20) at around $495/mt cfr getting no interest from buyers.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both dropped by €9/mt to €373/mt delivered dockside and €378/mt delivered, respectively, on Tuesday.