Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €5/mt ($6/mt) to €210/mt delivered dockside on Tuesday due to a lull in trading.


Some European suppliers chose to cut collection prices on significantly weak demand for imported ferrous scrap, especially in Turkey. According to sellers, some deals are possible in Turkey between $290/mt cfr and 295/mt cfr for European HMS 1&2 (75:25) this week compared with $295-300/mt cfr a week ago. However, the firm demand for scrap within the European region could keep cargo prices from pushing below the $290/mt cfr level.


The negotiations between European suppliers and Turkish importers have slowed down with both preferring to wait and evaluate market conditions carefully before making a commitment.


The weekly Davis Indexes for HMS 1 and for bonus scrap in the ARAG region both also dropped by €5/mt ($6/mt) to €220/mt delivered dockside and €225/mt delivered dockside, respectively, on Tuesday.


(€1 = $1.18)

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