The weekly Davis Index for north and south UK HMS 1&2 ferrous scrap climbed £6-7/mt ($8-9/mt) to £182/mt delivered dockside on Nov 17 as bulk processors noted a fall in scrap inflows.
Since the imposition of a second month-long lockdown on Nov 5, bulk ferrous scrap processors have noted a decline material inflows to their docks and yards. As a result, major UK exporters have had to raise dockside purchase prices to compete with their peers to secure sufficient volumes.
On Monday, Turkish HMS 1&2 (80:20) ferrous scrap import prices jumped by $21/mt over the past weeks to $317.91/mt, causing UK bulk ferrous scrap processors to lift dockside benchmarks, enabling them to fill new orders at higher prices.
The weekly indexes for north and south UK OA (Plate & Structural) increased £9/mt higher over the same period to £204/mt, respectively, delivered dockside on Nov 17.
Davis’ north and south UK 5A/5C (frag feed) ferrous scrap indices climbed £5/mt to £108/mt delivered dockside over the past week.
(£1 = $1.33)