The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region declined by €3/mt ($4/mt) to €330/mt delivered dockside on Tuesday, but collection prices diverged significantly from supplier to supplier amid an absence of deals in Turkey.
European ferrous scrap exporters resumed operations after the holidays, but some of them decreased collection price for HMS 1&2 (75:25) to €315/mt delivered, while others increased it to €345/mt delivered. Opinions on pricing differ notably as the Turkish imported market remains quiet. As a result, some exporters are wary of downward corrections, while others expect the uptrend to continue.
In the meantime, some European scrap suppliers began receiving inquiries from Chinese buyers and are considering the possibility of sales to the Asian nation.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also decreased by €3/mt ($4/mt) to €340/mt delivered dockside and €345/mt delivered, respectively, on Tuesday.
(€1 = $1.23)