Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices climbed by £7-10/mt ($10-14/mt) to £248/mt and £245/mt, delivered dockside, respectively, on Tuesday.
UK-based dockside buyers increased purchases by £5-10/mt, depending on grade and location, over the past week, as strong export prices encouraged most to lift rates to secure inflows.
Some bulk suppliers are concerned that typically syndicated bookings have not eventuated this month despite stronger export prices, particularly to Turkey. Nevertheless, the few bookings that have materialized have continued to drive Turkish ferrous scrap import prices higher.
Davis Index’ Turkish HMS 1&2 (80:20) ferrous scrap import index climbed $9/mt higher over the past week to $452/mt cfr Turkey on May 3, giving some exporters optimism.
The weekly indices for north and south UK OA (Plate & Structural) climbed by £5/mt to £260/mt, delivered dockside, respectively, during the week.
Davis’ weekly north and south UK 5A/5C (frag feed) ferrous scrap indices also increased by £8/mt over the past week to £158/mt, on the same basis.
(£1=$1.39)