Davis Index’ weekly north and south UK HMS 1&2 ferrous scrap indices increased by £9/mt ($12/mt) over the past week to £217/mt delivered dockside, on December 22.
UK dockside purchase prices tightened around the upper ranges over the past week, as most buyers had already “clocked off” in the run up to seasonal holidays.
Those bulk processors paying at the lower end of the range lifted their prices to keep up with the country’s major ferrous scrap exporters.
While UK dockside purchase prices remain relatively low compared with their EU counterparts, Davis Index understands that a healthy supply of material has continued to flow into yards.
Moreover, UK bulk processors are understood to be enjoying healthy margins given that the growth in dockside rates has been capped compared with developments in export prices to Turkey.
For example, Turkish HMS 1&2 (80:20) import prices jumped a further $36/mt over the past seven days to $462.93/mt on Dec 21.
The weekly indexes for north and south UK OA (Plate & Structural) were £8/mt higher over the same period to £230/mt, respectively, delivered dockside on Dec 22.
Davis’ north and south UK 5A/5C (frag feed) ferrous scrap indexes remained unchanged at £130/mt, respectively, delivered dockside over the past week.
(£1 = $1.34)