The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €8/mt ($10/mt) to €333/mt delivered dockside on Tuesday on a positive export market outlook.
Ferrous scrap exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) raised collection prices in a bid to achieve higher sale prices to Turkey, considering solid demand at that destination.
European suppliers are offering HMS 1&2 (80:20) and HMS 1&2 (75:25) at $450-460/mt cfr Turkey this week, while a deal between a Belgian recycler and Turkish mill was closed at an average price of $453/mt cfr for 20,000mt of HMS 1&2 (80:20), 8,000mt of shredded scrap, 10,000mt of bonus material and 2,000mt of busheling late last week.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region also increased by €8/mt ($10/mt) to €343/mt delivered dockside and €348/mt delivered, respectively, on Tuesday.
(€1=$1.20)