The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €4/mt to €306/mt ($361/mt) delivered dockside on Tuesday following a downtrend in the export market.
Ferrous scrap exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) reduced collection prices following a drop in Turkey’s deal prices. Some European suppliers sold HMS 1&2 (80:20) at $435-437/mt cfr Turkey at the beginning of this week, down by $5-7/mt from the previous transaction.
Turkish mills continue negotiating purchases for October shipment, but remain firm in bidding no higher than $435/mt cfr for European-origin HMS 1&2 (80:20).
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also declined by €4/mt to €316/mt delivered dockside and €321/mt delivered, respectively, on Tuesday.
(€1=$1.18)