The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region rose by €7/mt ($8/mt) to €215/mt delivered dockside on Tuesday amid a bullish export market and strong demand.
Dutch and Belgian ferrous scrap exporters raised collection prices further owing to higher prices in sales to Turkey. These exporters expect a continued uptrend in prices. Most suppliers are now considering sales of European HMS 1&2 (75:25) at around $295/mt cfr Turkey. This grade of scrap traded at around $290/mt cfr last week. European exporters plan to target higher prices if Turkish mills accept $305-310/mt cfr for HMS 1&2 (80:20) from the USA or Baltic region.
The Davis Indexes for HMS 1 and for bonus scrap in the ARAG region also increased by €7/mt ($8/mt) to €225/mt delivered dockside and to €230/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.18)