The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €3/mt ($3.50/mt) to €210/mt delivered dockside on Tuesday amid slow collections.
Most European ferrous scrap exporters decided to raise collection prices to spur its inflow as availability of the material, especially prime grades, is limited.
As a result, most suppliers are collecting HMS 1&2 (75:25) at €210/mt delivered, though some are out of step. An exporter, requiring scrap to complete a cargo scheduled for shipment next week, increased collection prices to €215/mt delivered, while another kept dockside prices at €205/mt delivered, due to enough stocks and uncertain sales prospects.
Trading activity in the bulk market remained sluggish with Belgian and Dutch exporters estimating workable price levels cfr Turkey at $285-290/mt for HMS 1&2 (80:20) on Tuesday.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both bounced back by €3/mt ($3.50/mt) to €220/mt delivered dockside and €225/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.17)