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

Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices dropped by £10/mt ($14/mt) to £238/mt, delivered dockside, respectively, on Tuesday.


UK-based bulk ferrous scrap processors pulled purchase prices back by £5-10/mt, depending on grade and location, to preserve margins in response to weaker export benchmarks.


Davis Index’s Turkish HMS 1&2 (80:20) ferrous scrap import index plunged by $30/mt in the past seven days to stand at $432.25/mt cfr Turkey. While little has changed with respect to overall supply-demand balance, Davis Index believes that volatility in iron ore markets has reverberated through the ferrous supply chain.


The weekly indices for north and south UK OA (Plate & Structural) similarly declined £10/mt to £258/mt, delivered dockside, respectively during the week.


Davis’ weekly north and south UK 5A/5C (frag feed) ferrous scrap indices declined by a more modest £5/mt to £155/mt delivered, on the same basis.


UK merchants and bulk exporters were in agreement that dockside prices would move another £5-10/mt lower in the near term to realign with export benchmarks.


(£1 = $1.39)


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