The weekly Davis Index for north and south UK HMS 1&2 (80:20) ferrous scrap increased by £4/mt ($6/mt) and £5/mt on Tuesday to £145/mt and £147/mt, respectively, delivered dockside.
Bulk exporters in UK limited the dockside purchase price increases to £4-7/mt over the past week, despite healthy export demand and an uptick in major seaborne ferrous scrap benchmarks, particularly to Turkey.
Some major south UK-based ferrous scrap processors were willing to pay slightly above market to secure volumes given that it is now highly profitable to export volumes in bulk tippers (trucks) to northern Europe.
The weekly Davis Index for UK 0A (plate & structural) rose by £5/mt in UK northern dock and by £7/mt in UK southern dock to £170/mt delivered dockside, while the index for both 5A/5C in UK northern dock and UK southern dock increased by £5/mt to £75/mt delivered dockside over the same period.