The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €15/mt ($18/mt) to €285/mt delivered dockside on Tuesday amid challenging export sales.
Most exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) reduced ferrous scrap collection prices further due to stagnant demand. Turkish importers, especially, showed minimal interest in scrap bookings due to sluggish orders for rebar.
Negotiations are slow in the European export scrap market at present with neither firm offers, nor bids reported. Most European suppliers are preferring to wait for the next deal to get more clarity on the pricing outlook, which remains varied for now.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also dropped by €15/mt ($18/mt) to €295/mt delivered dockside and €300/mt delivered, respectively, on Tuesday.
(€1 = $1.20)