The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €14/mt ($17/mt) to €312/mt delivered dockside on Tuesday in a bullish export market.
Collection prices for ferrous scrap rose in the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) as suppliers closed deals at higher prices to foreign outlets and plan to achieve a further increase.
This week, European exporters are targeting $430-440/mt cfr Turkey for HMS 1&2 (75:25), while on Feb 15 a German recycler sold 26,000mt of the same grade at $410/mt cfr and 4,000mt of bonus material at $425/mt cfr to a large Turkish mill. Another supplier was heard to have reached an agreement with an Egyptian importer last week, but details of the transaction were not available at the time of publication.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both increased by €14/mt ($17/mt) to €322/mt delivered dockside and €327/mt delivered, respectively, on Tuesday.
(€1 = $1.21)