The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region rose by €5/mt ($6/mt) to €199/mt delivered dockside on Tuesday amid an uptrend in the export market.
Dockside ferrous scrap prices in the Netherlands and Belgium increased as suppliers insisted on higher prices to Turkey, due to better demand from Turkish mills. Exporters are offering HMS 1&2 (80:20) at $265-270/mt cfr Turkey at present.
Apart from demand, European scrap suppliers have raised their prices because of the Euro’s recent revaluation against the dollar as well as an increase in freight rates which have risen to around $20/mt for 30,000mt-cargoes.
Some European suppliers are in negotiations with Turkish mills at these elevated prices, but no deals have been reported so far.
The Davis Indexes for HMS 1 and for bonus scrap in the ARAG region both rose by €5/mt ($6/mt) to €209/mt delivered dockside and €214/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.15)