The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region dropped by €6/mt to €337/mt ($398/mt) delivered dockside on Tuesday in a bearish export market.
Ferrous scrap exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) continued to cut collection prices as Turkish importers targeted lower prices. Bids for European HMS 1&2 (75:25) dropped to $460-465/mt cfr Turkey after sales to Egypt were heard at similar levels around a week ago.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also decreased by €6/mt to €347/mt delivered dockside and €352/mt delivered, respectively, on Tuesday.
(€1 = $1.18)