The daily Davis Index for US-origin containerized HMS 1&2 (80:20), Monday, declined by $1/mt to $432/mt cfr Taiwan. Some deals were even heard heard at $430/mt cfr on Monday. Offers remained unchanged at $435-440/mt cfr, with bids at $425-430/mt cfr. Offers for bulk HMS 1&2 (80:20) of US-origin, Monday, slipped marginally to $465-470/mt cfr from last week.
Market participants indicate sentiments have cooled down of late. Slow steel demand in China and Turkey has pressured sellers to reduce offers for Asian buyers. In Turkey, the Davis Index for HMS 1&2 (80:20), Friday, remained unchanged at $423.75/mt cfr from Thursday. Post Ramadan scrap prices are unlikely to pick due to weakening finished steel demand, said importers, citing a weakness in Chinese steel futures.