The monthly Davis Indexes for UK 1&2 and OA ferrous scrap consumer jumped £37/mt ($46/mt) and £28/mt over the past month to £150/mt and £188/mt delivered to mill, respectively, following the conclusion of mill-yard negotiations in May
Some domestic ferrous scrap suppliers had hoped to recoup the £60/mt reduction at the end of last month’s negotiations, although it was highly unlikely. UK-based bulk exporters had capped highly-correlated dockside purchase price hikes to £20/mt over the past month.
Ferrous scrap traders in the UK were left confused and irritated by what they considered to be “relatively vague guidance” following a review of the government-enforced lockdown measures on May 10. Traders were left unsure whether or not to recall local employees.
The monthly indices for UK 3B, 4A/4C, 8A/8B, and 12A/C/D ferrous scrap consumer increased £30/mt to £153/mt, £188-193/mt, £180-185/mt, and £184-189/mt, respectively, over the same period, in response to the limited availability of premium grades.