The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €4/mt ($5/mt) to €211/mt delivered dockside on Tuesday amid an uptrend in the export market.
Collection prices for ferrous scrap increased in the Netherlands and Belgium as suppliers achieved higher prices in sales to Turkey due to strong demand. Some deals were reported at around $285/mt cfr Turkey for European-origin HMS 1&2 (80:20) last week, while initial bids varied in the range of $280-283/mt cfr. However, offer prices from Europe increased this week.
Some exporters are currently negotiating with Turkish importers with offers heard at around $290/mt cfr for HMS 1&2 (75:25).
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also rose by €4/mt ($5/mt) to €221/mt delivered dockside and €226/mt delivered, respectively, on Tuesday.
(€1 = $1.18)