UK HMS 1&2 (80:20) prices are expected to increase £10/mt ($13/mt) to average £150-155/mt delivered dockside early next week. This latest hike was expected given that some major south UK-based ferrous scrap processors were willing to pay slightly above market this week to secure sufficient volumes for export, particularly to northern Europe.

 

The disparity between UK and European dockside prices (£145/mt vs £175/mt) meant that southern UK yards were able to profitably export volumes in bulk tippers (trucks) to northern Europe.

 

As a result, other major UK ferrous scrap processors across country have had to play catch up and raise their base prices while still maintaining a relatively healthy margin.

 

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