The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €6/mt ($7/mt) to €308/mt delivered dockside on Tuesday in a challenging export market.
Turkish importers showed minimal interest in scrap bookings, anticipating lower prices so exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) reduced ferrous scrap collection prices in a bid to adapt to the downtrend.
Negotiations are slow in the European export scrap market with no firm offers heard in a difficult collection environment. Most European suppliers are preferring to wait for the next deal to get more clarity on prices.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both dropped by €8/mt ($9.50/mt) to €322/mt delivered dockside and €327/mt delivered, respectively, on Tuesday.
(€1 = $1.19)