The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €5/mt ($6/mt) to €313/mt delivered dockside on Tuesday.
Renewed activity with a couple of fresh bookings to Turkey over the past week left north European-based bulk processors scrambling to secure sufficient volumes.
Davis Index’s Turkish HMS 1&2 (80:20) ferrous scrap import benchmark climbed almost $8/mt over the same period to $426.9/mt cfr Turkey on March 29. As a result, some bulk exporters in the Netherlands (Amsterdam and Rotterdam) and Belgium (Antwerp and Ghent) were heard to have raised bids as high as €315/mt for HMS 1&2 delivered dockside.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both edged €1/mt higher to €323/mt delivered dockside and €328/mt delivered, respectively, on Tuesday.
(€1 = $1.17)