The weekly Davis Index for EU ARAG HMS 1&2 (75:25) decreased by €10/mt ($11/mt) to €180/mt delivered dockside on Tuesday, as COVID-19 has rendered export prospects unclear.
Ferrous scrap collection in the Netherlands and Belgium is sluggish. Material inflow has declined significantly because of lower dockside prices amid a bearish export market. Some suppliers are trying to collect material, while others are refraining. It should also be noted that incoming scrap flows are lower because auto manufacturers have suspended operations.
Turkey, a leading scrap importer, has abstained from purchasing scrap from anywhere, including the EU.
The Davis Indexes for HMS 1 and P&S in the ARAG both decreased by €8/mt ($9/mt) on Tuesday to €190/mt and €195/mt, respectively, delivered dockside.
€1 = $1.10