The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €25/mt ($30/mt) to €313/mt delivered dockside on Tuesday amid a downtrend in the export market.
Ferrous scrap exporters from the Netherlands (Amsterdam, Rotterdam) and Belgium (Antwerp, Ghent) cut collection prices significantly this week amid a strong negative sentiment in the market as Turkish mills achieved lower prices in bookings from the USA and the Baltic region. Thus, bids for European-origin HMS 1&2 (80:20) and HMS 1&2 (75:25) moved to $430-440/mt cfr Turkey, after a large producer purchased HMS 1&2 (80:20) from the USA at $450/mt cfr.
Some European recyclers decided to suspend collection and withdraw offers to Turkey this week.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both dropped by €26/mt ($31/mt) to €323/mt delivered dockside and €328/mt delivered, respectively, on Tuesday.
(€1 = $1.21)