Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region dropped by €5/mt ($5.50/mt) to €187/mt delivered dockside on Tuesday.


European ferrous scrap exporters have become cautious and started reducing collection prices this week, as Turkish importers firmly insist on discounts after having achieved lower prices in a deal from the Baltic region. A Russian supplier from St Petersburg agreed to sell 26,000mt of HMS 1&2 (80:20) for $242/mt cfr and 4,000mt of bonus material for $252/mt cfr at the end of last week, as Davis Index reported yesterday.


Most Dutch and Belgian exporters prefer waiting before making offers to Turkey, because they already sold their cargoes for May shipment and lower dockside prices may slowdown and deteriorate collection of June shipment cargoes. Moreover, in the EU, demand for scrap is recovering with some mills resuming operations after suspensions related to COVID-19, which has created additional options for scrap sellers. 


The Davis Index for HMS 1 in the ARAG region decreased by €5/mt ($5.50/mt) to €195/mt delivered dockside on Tuesday, while the index for bonus scrap dropped by €9/mt ($10/mt) to €201/mt delivered dockside.


(€1 = $1.09)


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