The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region rose by €11/mt ($13/mt) to €268/mt delivered dockside on Tuesday amid a busy export market and positive sentiment.
Collection prices for ferrous scrap increased in the Netherlands and Belgium as suppliers sought tonnages after the most recent transactions in Turkey. Late last week, some European suppliers sold HMS 1&2 (75:25) and HMS 1&2 (80:20) at $364-367/mt cfr Turkey, which is around $30/mt higher than the prices for the same material at the end of November.
This week, European exporters anticipate further price increases to $375-380/mt cfr Turkey for HMS 1&2 (80:20) due to limited availability of the material.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also rose by €11/mt ($13/mt) to €278/mt delivered dockside and €283/mt delivered, respectively, on Tuesday.
(€1 = $1.21)