The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region declined by €2/mt ($2/mt) to €203/mt delivered dockside on Tuesday after prices dropped in the most recent deals in Turkey.
Collection prices for ferrous scrap decreased in the Netherlands and Belgium as Turkish importers, who were pushing for lower prices for European material, achieved their desired prices in bookings from the USA. Bids for European-origin HMS 1&2 (75:25) were reported at $270-275/mt cfr Turkey last week, which were not attractive for exporters who refused to sell, but decided to drop collection prices.
Demand for ferrous scrap continued to improve in Turkey this week, giving some hope of higher bids to most European suppliers.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both declined by €2/mt ($2/mt) to €213/mt delivered dockside and €218/mt delivered, respectively, on Tuesday.
(€1 = $1.17)