The weekly Davis Index for north and south UK HMS 1&2 (80:20) Tuesday dropped by £13/mt ($17/mt) over the past week to £149/mt delivered dockside on Feb 4, as large processors swiftly reduced collection prices in line with developments in the deep-sea market.
Bulk exporters offered some suppliers for HMS 1&2 for as low as £140-145/mt and OA (Plate & Structural) at £165/mt delivered dockside irrespective of geographical location, while one trader claimed that these levels were too low and the deals were likely done to bring down purchase averages.
Davis Index calculates that these declines bring UK dockside HMS 1&2 ferrous scrap prices in line with the most recent deep-sea deals concluded on Jan 30 for HMS 1&2 (80:20) at $267.50/mt and $270/mt cfr Turkey for US- and European-origin material, respectively.
UK dockside collection prices have tumbled for a third consecutive week and amount to an accumulated decline of £33/mt since the market peaked on Jan 14.
Similarly, the weekly Davis Index for OA (Plate & Structural) dockside north and south index fell £13/mt to £172/mt delivered dockside.