Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices declined by £5/mt ($7/mt) to £170/mt delivered dockside, on Tuesday.
UK bulk processors pushed through a £5/mt cut to dockside purchase prices over the past week to better reflect trading conditions in major seaborne trade routes.
Despite slow orders from export markets, weak UK prices have been propped up by demand from local integrated mills who have proportionately increased their scrap use over the past few months.
The weekly indexes for north and south UK OA (Plate & Structural) declined by £5/mt over the same period to £190/mt, respectively, delivered dockside on Oct 13.
Davis Index’s north and south UK 5A/5C (frag feed) ferrous scrap indexes were both unchanged at £95/mt delivered dockside over the past week.
(£1 = $1.31)