The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €5/mt ($5.50/mt) to €195/mt delivered dockside on Tuesday.
Dockside ferrous scrap prices in the Netherlands and Belgium resumed their uptrend after declining last week, as exporters raised collection prices amid higher prices fixed in the most recent sales to Turkey.
Two transactions from the EU to Turkey were reported last week. In one deal, a supplier from the Netherlands closed a sale at $246.50/mt cfr for 19,000mt of HMS 1&2 (80:20). In another transaction, an exporter from Belgium reached an agreement at an average price of $247.50/mt cfr for 22,500mt of HMS 1&2 (75:25), and 12,500mt of P&S 5ft and HMS 1.
Prices for European material rose by $8.50/mt after these deals on improved demand in Turkey for June shipment cargoes.
The Davis Indexes for HMS 1 and bonus scrap in the ARAG region both increased by €5/mt ($5.50/mt) to €203/mt delivered dockside and €209/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.10)