Davis Index’ weekly north and south UK HMS 1&2 ferrous scrap indices increased £7/mt ($9/mt) and £6/mt over the past week to £160/mt and £159/mt, respectively, delivered dockside on Tuesday.
A flurry of fresh Turkish deep sea ferrous scrap orders from UK bulk suppliers over the past week, prompted many processors to lift dockside prices to secure stable inflows and fill booked vessels.
Indeed, Turkish HMS 1&2 (80:20) ferrous scrap import prices have climbed $7.47/mt to a new five-month high of $278.45/mt on July 30 from $270.98/mt on July 23.
Rumours also surfaced last week that three major bulk ferrous scrap processors in the UK’s southwest region found themselves in a private bidding war to secure volumes.
At the same time, other suppliers noted that Indian and Pakistani demand for UK-origin containerized shredded and P&S ferrous scrap had noticeably slowed.
The weekly indices for north and south UK OA (Plate & Structural) climbed £10/mt and £8/mt over the past week to £180/mt and £178/mt, respectively delivered dockside on August 4.
The indices in north and south for UK 5A/5C (frag feed) ferrous scrap were also unchanged at £85/mt delivered dockside over the same period.
(£1 = $1.31)