Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices edged up by £3/mt ($4/mt) to £281/mt, delivered dockside, on Tuesday.
UK dockside ferrous scrap purchase prices increased by £2-3/mt over the past week, after bulk exporters raised rates to secure sufficient volumes to fill pre-booked vessels.
The upper end of the range for HMS 1&2 (80:20) has climbed towards £290/mt, delivered dockside, while the lower end of the range remained in the mid £270/mt.
These latest dockside purchase price hikes will no doubt cut into margins, given that benchmarks on major seaborne trade routes have witnessed a modest pullback over the same period.
Davis Index’ HMS 1&2 (80:20) US-origin ferrous scrap index declined $8.22/mt over the past week to $498.75/mt cfr Turkey.
The weekly indices for north and south UK OA (Plate & Structural) nudged £2/mt higher to £302/mt, delivered dockside, respectively, during the week.
Davis Index’s weekly north and south UK 5A/5C (frag feed) ferrous scrap indices remained unchanged at £180/mt, on the same basis.