The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €20/mt ($22/mt) to €200/mt delivered dockside on Tuesday amid higher export prices and better demand.
European ferrous scrap exporters raised collection prices as buying activity improved. Thus, Turkish mills accepted higher prices for Baltic material, and bids for Dutch and Belgian HMS 1&2 (80:20) went up to $245/mt cfr from $230/mt cfr a week ago. Some negotiations are in progress with no deals reported so far, after a Belgian scrap supplier sold a mixed composition cargo at an average price of $245/mt cfr Turkey last week.
Scrap collection at European export yards is also improving gradually.
The Davis Indexes for HMS 1 and for bonus scrap in the ARAG region rose by €22/mt ($24/mt) to €210/mt delivered dockside and to €216/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.09)