Davis Index’ weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices rebounded by £7/mt ($9/mt) and £8/mt to £148/mt and £147/mt, respectively, delivered dockside on Tuesday.
Turkish mills have been relatively quiet during the latest negotiations, but UK-based ferrous scrap suppliers have noted a flurry of activity from Indian and Pakistani traders in the containerized scrap market. This recent unanticipated demand from South Asian-based buyers has consequently driven up prices for feedstock, spilling over into the complementary local bulk markets.
UK HMS 1&2 (80:20) dockside ferrous scrap purchase prices still demonstrate a wide range across the country, with some processors able to buy tonnes as low as £135/mt and as high as £155/mt.
The weekly indices for north and south UK OA (Plate & Structural) ferrous scrap increased by £5/mt to £165/mt delivered dockside. The weekly index for north and south UK 5A/5C (frag feed) climbed down by £5/mt to £85/mt over the same period.
(£1 = $1.25)