The weekly Davis Indices for weekly north and south UK HMS 1&2(80:20) ferrous scrap increased £10/mt ($13/mt) over the past week to £208/mt delivered dockside on Dec 15.
UK bulk ferrous scrap exporters reportedly displayed “exceptional discipline” while negotiating dockside purchase prices over the past week. Another UK-based trader commented that major processors had kept list-prices almost constant compared with last week, while passing on large price hikes to select suppliers.
By comparison, Davis Index’ Turkish HMS 1&2 (80:20) US-origin ferrous scrap import index jumped almost $51/mt over the past seven days to $426.67/mt, cfr Turkey, on Dec 14.
British shortsea bulk coasters and transhippers continue to benefit from a healthy arbitrage between UK and northern European destinations, particularly Amsterdam, Ghent, Antwerp, and Rotterdam.
The weekly indexes for north and south UK OA (P&S) increased by £7/mt over the week to £222/mt delivered dockside on Dec 15. Davis’ north and south UK 5A/5C (frag feed) ferrous scrap indexes climbed £5/mt to £130/mt delivered dockside over the past week.
(£1 = $1.34)