Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices climbed by £7-8/mt ($9-11/mt) to £175/mt delivered dockside and £176/mt delivered, respectively, on Tuesday.
UK dockside ferrous scrap purchase prices played catch up with developments witnessed in major seaborne trade routes over the past month.
UK dockside rates had remained little changed though Turkish HMS 1&2 (80:20) ferrous scrap import prices have climbed almost $14/mt over the past four weeks to $296.5/mt on Nov 9. At the same time, Davis Index has heard anecdotal evidence that the imposition of a second month-long lockdown since Nov 5 has materially slowed inflows of ferrous scrap into local yards.
The weekly indexes for north and south UK OA (Plate & Structural) both increased by £7/mt to £195/mt delivered dockside, delivered dockside on Nov 10.
Davis’ north and south UK 5A/5C (frag feed) ferrous scrap indexes jumped by £8/mt to £103/mt delivered dockside, respectively, over the past week.
(£1 = $1.32)