The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region dropped by €9/mt to €310/mt ($366/mt) delivered dockside on Tuesday in a subdued export market.
Ferrous scrap exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) continued to cut collection prices after Turkish importers achieved deals at lower prices amid sluggish demand. A large European supplier sold HMS 1&2 (80:20) at $442/mt cfr to a Turkish mill late last week after difficult negotiations rasied the initial bid, which was below $440/mt cfr.
Ferrous scrap collection in the EU declined further as dockside prices have been declining since the beginning of July. As a result, they fell by €58/mt.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also declined by €9/mt to €320/mt delivered dockside and €325/mt delivered, respectively, on Tuesday.