The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region rose by €3/mt ($3/mt) to €194/mt delivered dockside on Tuesday amid positive export market sentiment.

 

Ferrous scrap suppliers in the Netherlands and Belgium continued to increase collection prices in anticipation of deals at higher prices as export demand, especially from Turkey, improved. Offers from Europe to Turkey are currently scarce as some exporters sold to alternative outlets such as Egypt in the first half of July. Market participants anticipate prices for US-origin HMS 1&2 (80:20) to reach $260/mt cfr in Turkey, which would mean a rise to around $255/mt cfr for the same grade from Europe.

 

Collection volumes remained stable at Dutch and Belgian scrap yards.

 

The Davis Indexes for HMS 1 and for bonus scrap in the ARAG region both increased by €3/mt ($3/mt) to €204/mt delivered dockside and €209/mt delivered, respectively, on Tuesday.

 

(€1 = $1.14)

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