Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices were unchanged at £275/mt (US$381/mt), delivered dockside, on Tuesday.
UK ferrous scrap dockside purchase prices remained little changed over the past week, with bulk exporters waiting for cues from the seaborne market.
A bulk processor was heard to have paid up to £275/mt for HMS 1&2 (80:20) on a collected basis, which would translate to a dockside delivered price of around £285/mt. However, the quality of that material was closer to HMS #1 grades than the “inferior” HMS 1&2 (80:20) specifications.
Most market participants have had their attention diverted to monthly negotiations with domestic smelters, which were heard to be settling anywhere between £5-15/mt up on last month.
A UK-based ferrous scrap trader commented that local mills tend to settle quicker if they expect a material increase in prices is on the horizon.
The weekly indices for north and south UK OA (Plate & Structural) held steady at £300/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.