The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region was unchanged at €203/mt ($240/mt) delivered dockside on Tuesday, as suppliers tried to maintain the inflow of material in anticipation of higher prices in Turkey.
Ferrous scrap exporters from the Netherlands and Belgium did not revise collection prices, because they require tonnages to complete their cargoes for September shipment and expect buying activity on export to improve further, especially in Turkey.
A few European suppliers accepted lower prices in deals with Turkish mills last week, but the rest preferred to wait as they target higher prices. Demand for October shipments is anticipated to boost prices in Turkey.
The Davis Indexes for both HMS 1 and bonus scrap in the ARAG region were flat at €213/mt ($251/mt) delivered dockside and at €218/mt ($257/mt) delivered, respectively, on Tuesday.
(€1 = $1.18)