The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €10/mt ($11/mt) to €190/mt delivered dockside on Tuesday amid a downtrend in the export market.
European ferrous scrap exporters cut collection prices this week as market sentiment for exports dipped after Turkish mills achieved lower prices in the most recent deals. Late last week, a cargo each from Belgium and the Netherlands were sold to Turkey at $238/mt cfr for HMS 1&2 (80:20). Bids in Turkey have dropped from $245/mt cfr to $235/mt cfr for European material as its availability has increased.
Scrap collection improved in Belgium and in the Netherlands last week, when dockside prices reached €200/mt delivered, but slowed down this week amid lower dockside prices.
The Davis Indexes for HMS 1 and bonus scrap in the ARAG region both declined by €12/mt ($13/mt) to €198/mt delivered dockside and €204/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.09)