Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices increased by £8/mt ($11/mt) to £277/mt, delivered dockside, on Tuesday.
UK dockside ferrous scrap purchase prices increased £4-8/mt over the past week, depending on grade, as bulk processors paid up to secure quality grades to fill pre-booked vessels.
One UK-based trader commented that some very large exporters wanted to make sure they secured the volumes and quality as they had “short sold” the cargoes.
That said, one large UK bulk ferrous processor only made modest adjustments to their relatively low dockside rates, widening the range between highest and lowest paid to £20/mt cross-country.
The weekly indices for north and south UK OA (Plate & Structural) edged up by £4/mt to £298/mt, delivered dockside, respectively, during the week.
Davis Index’s weekly north and south UK 5A/5C (frag feed) ferrous scrap indices climbed by £5/mt to £180/mt, on the same basis.