Davis Index’ weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices both remained unchanged at £145/mt ($184/mt), over the past week delivered dockside on June 9.
However, data contributions from bulk processors and merchant suppliers showed a significant widening in high-low spreads across the whole country despite UK HMS 1&2 (80:20) indices remaining unchanged.
Davis Index learned that one large bulk ferrous scrap exporter was paying up to a maximum of £155/mt for HMS 1&2 grades to secure volumes over the past week.
A south UK-based trader commented that this processor was likely paying £10/mt above market given that it is rumored to be short of material and has a deep-sea vessel destined for Egypt to fill.
On the other hand, those docks holding relatively sufficient stocks have managed to keep HMS 1&2 (80:20) dockside purchase prices as low as £135-140/mt this week.
The weekly index for north and south UK OA (Plate & Structural) ferrous scrap increased by £7/mt to £170/mt delivered dockside on Tuesday. At the same time, the weekly index for north and south UK 5A/5C (frag feed) remained unchanged at £85/mt.
(£1 = $1.27)