The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €10/mt ($12/mt) to €333/mt delivered dockside on Tuesday based on the last bookings ahead of Christmas, though most exporters suspended collection this week.
Most Dutch and Belgian recyclers from Amsterdam, Rotterdam, Antwerp, Ghent (ARAG) opted to hold off collection of ferrous scrap at the end of December since Turkish importers have paused purchases. European suppliers prefer to wait and see where prices will move in the next sale to Turkey as it is not clear if they will continue increasing in January or begin to decline.
Business is slow in Europe due to Christmas and New Year holidays. No sales have been reported from the region to Turkey since the beginning of last week when HMS 1&2 (80:20) was booked at $455/mt cfr in a mixed composition cargo.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also rose by €10/mt ($12/mt) to €343/mt delivered dockside and €348/mt delivered, respectively, on Tuesday.
(€1 = $1.23)