Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices declined by £5-8/mt ($7-11/mt) to £265/mt delivered dockside, respectively, on Tuesday.
UK dockside purchase prices declined over the past week, as buyers dropped rates to stem yard inflows and protect narrowing margins from declining export benchmarks.
Davis Index’s Turkish HMS 1&2 (80:20) ferrous scrap import index has fallen almost $8/mt since Aug 2 to $461.94/mt cfr Turkey on Aug 9.
Some UK-based bulk exporters have paid premiums to maintain the flow of larger sized parcels, keeping benchmarks relatively elevated.
The weekly indices for north and south UK OA (Plate & Girder) fell by £4/mt to £295/mt, delivered dockside, respectively.
Davis Index’s weekly north and south UK 5A/5C (frag feed) ferrous scrap indices softened by £3/mt to £175/mt, on the same basis.