The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €11/mt to €368/mt ($434/mt) delivered dockside on Tuesday amid slow inflow of the material.
Ferrous scrap suppliers from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) raised collection prices, competing for the material with European mills, which pay higher prices.
Offers from the ARAG region remain scarce, while demand for scrap in Turkey is improving. European exporters believe that Turkish mills are yet to purchase up to 40 cargoes for August shipment and will have to increase their bids to secure enough material.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also rose by €11/mt to €378/mt delivered dockside and €383/mt delivered, respectively, on Tuesday.
(€1 = $1.18)