The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region slipped by €1/mt to €353/mt ($431/mt) delivered dockside on Tuesday amid stiff competition from local mills.
Most exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) opted to hold collection prices due to the slow inflow of material despite the absence of fresh sales to Turkey.
Moreover, Turkish mills returned to the market after a Baltic supplier booked a cargo of HMS 1&2 (80:20) at $501/mt cfr Turkey and shredded and bonus scrap at $511/mt cfr, which has improved market sentiment.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also slid by €1/mt to €363/mt delivered dockside and €368/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.22)