Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for north UK HMS 1&2 (80:20) ferrous scrap inched up by £3/mt ($4/mt) to £110/mt delivered dockside and increased by £5/mt to £105/mt delivered for south UK HMS 1&2 (80:20) on Tuesday.


Davis Index notes that the range in grade and regional contributions have narrowed over the past week pulling some indices higher, rather than representing tighter supply or an improvement in export demand.


Major UK ferrous scrap processors, permitted to operate under “essential” worker status, reasserted the complete lack of activity from merchant collectors given that the country is now in its fourth week of an initial three-week lockdown period.


Some smaller domestic yards observed it was more beneficial to stockpile and “sit on” premium grades, such as plate, girder and structural, rather than sell them at what they consider relatively low prices under current circumstances.


The weekly index for south UK OA (Plate & Structural) ferrous scrap increased by £5/mt to £130/mt delivered dockside, while the north OA index remained unchanged at £130/mt delivered. 


At the same time, the weekly index for south UK 5A/5C (frag feed) dropped £2/mt to £63/mt delivered dockside over the same period, while northern 5A/5C remained unchanged at £68/mt delivered.


(£1 = $1.26)

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