The weekly Davis Index for north and south UK HMS 1&2 (80:20) ferrous scrap increased £5/mt ($7/mt) and £11/mt over the past week, to £141/mt and £142/mt delivered dockside, respectively on Feb 18.
UK export yards that had built up inventories in weeks prior, in anticipation of higher seaborne prices, were heard to be releasing volumes into the market to crystallise wider margins.
As a result, most UK deep-sea ferrous raised dockside purchase prices by up to £11/mt this week to maintain steady volumes of material.
Despite the majority of processors lifting HMS 1&2 (80:20) purchase prices to £140-145/mt this week, at least one southern UK-based yard was still able to procure material for as low as £125/mt.
While Davis’ weekly north and south OA (plate & structural) climbed £7/mt and £5/mt to £165/mt and £163/mt respectively over the same period, the 5A/5C (frag feed) ferrous scrap indices remained unchanged at £75/mt.