Davis Index’s monthly UK 1&2 and 3B, ferrous scrap indices fell by £5/mt ($7/mt) to £193/mt and £205/mt delivered to mill, respectively, while OA dropped by £10/mt to £215/mt delivered following the conclusion of mill-yard negotiations in October.
Local ferrous scrap merchants, who concluded negotiations in the first few days of the month could secure transactions at unchanged prices compared with September’s levels.
Those suppliers that drew out negotiations to the first week settled down £5/mt, while those that completed in the second week of October conceded £10/mt.
Unsurprisingly, domestic pricing action has reflected developments in the UK ferrous scrap dockside markets, which have also fallen by approximately £10/mt over the past two weeks.
UK-based traders commented that demand from domestic integrated smelters had rebounded as ferrous scrap use has proportionally displaced costlier hot metal consumption.
Davis Index’s monthly UK 4A/4C and 8A/8B ferrous scrap consumer indices declined by £7-10/mt to £218-228/mt, and £218-228/mt, respectively, while 12A/C scrap fell by £10/mt to £220/mt delivered over the same period.