Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices declined by £5-7/mt ($7-10/mt) to £273/mt and £270/mt delivered dockside, respectively, on Tuesday.
Bulk processors have dropped dockside rates largely in response to stagnant export demand from major seaborne trade routes, particularly to Turkey and Egypt.
Most UK bulk ferrous scrap exporters cut their dockside purchase prices this week by £2-9/mt, depending on grade and location. Transacted ranges have also widened over the past week with some processors trying to stem flows, while other more isolated operations benefit from captive supply.
Prices in northern England have remained relatively elevated compared with those in the south due to the entry of a new market participant in Teesside.
The weekly indices for north and south UK OA (Plate & Structural) also fell by £7-9/mt to £296/mt and £293/mt, delivered dockside, respectively.
Davis Index’s weekly north and south UK 5A/5C (frag feed) ferrous scrap indices edged £2/mt lower to £178/mt, on the same basis.
(£1 = $1.38)