The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €8/mt to €319/mt ($376/mt) delivered dockside on Tuesday after prices fell in the most recent sales to Turkey.
Ferrous scrap exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) continued to reduce collection prices after Turkish importers achieved deals at lower prices. A supplier from Belgium sold 25,000mt of HMS 1&2 (80:20), 7,500mt of shredded scrap, and 7,500mt of bonus material at an average price of $451/mt cfr Karadeniz last week.
This week, negotiations between European scrap sellers and Turkish buyers remain slow and most exporters see no other options but to drop collection prices despite the anemic inflow of the material as further sales prospects are vague.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also decreased by €8/mt to €329/mt delivered dockside and €334/mt delivered, respectively, on Tuesday.
(€1=$1.18)