The weekly Davis Index for north UK HMS 1&2 (80:20) ferrous scrap declined by £24/mt ($30/mt) to £107/mt delivered dockside while the index for south UK HMS 1&2 (80:20) fell by £15/mt to £100/mt delivered, on tight domestic supply.
Flailing ferrous scrap demand in key export markets is now superseded by a domestic “supply shock”, given UK’s merchant scrap market has all but completely ceased collecting and trading in response to stringent nationwide “stay-at-home notices”.
Major UK ferrous scrap processors still operating under “essential” worker status have also witnessed a dramatic decline in volumes across the weighbridge because of more stringent manual and physical handling criteria and social distancing measures.
The weekly indices for north and south UK OA (Plate & Structural) ferrous scrap increased by £22/mt and £15/mt to £130/mt and £125/mt, respectively, delivered dockside. The index for north and south UK 5A/5C (frag feed) climbed by £10/mt and £20/mt to £68/mt and £65/mt, respectively over the past week.
(£1 = $1.24)