The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €19/mt to €372/mt ($450/mt) delivered dockside on Tuesday as exporters competed with European mills for the material.
Ferrous scrap suppliers from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) raised collection prices amid tough competition and strong demand for scrap from the local market.
European exporters are firm about their offers and are refusing bids from Turkey below $500/mt cfr for HMS 1&2 (80:20) as they have the ability to redirect their cargoes to other destinations.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also increased by €19/mt to €382/mt delivered dockside and €387/mt delivered, respectively, on Tuesday.
(€1=$1.21)