The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region climbed by €1/mt to €358/mt ($437/mt) delivered dockside on Tuesday after price growth decelerated due to unclear sales prospects.
Collection prices varied significantly in the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) as opinions on outlook differed after the Turkish market went quiet.
Some exporters are wary of a downward correction amid negative sentiment from China, while others expect the uptrend to continue due to the firm Turkish rebar market. As a result, European dockside prices for HMS 1&2 (75:25) were reported in the range of €350-365/mt delivered.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also inched up by €1/mt to €368/mt delivered dockside and €373/mt delivered, respectively, on Tuesday.