The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region declined by €2/mt to €331/mt ($387/mt) delivered dockside on Tuesday as market sentiment remained bearish.
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 10,000mt of HMS 1&2 (80:20) at $458/mt cfr, 15,000mt of shredded scrap and 15,000mt of bonus material at $478/mt cfr for September shipment last week, and bids for European HMS 1&2 (75:25) and HMS 1&2 (80:20) in Turkey fell to $450-455/mt cfr this week.
Still, ferrous scrap collection remains slow in the EU due to improved demand in the domestic market and the vacation season, leading to limited declines in dockside prices.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also declined by €2/mt to €341/mt delivered dockside and €346/mt delivered, respectively, on Tuesday.