The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €10/mt ($11/mt) to €180/mt delivered dockside on Tuesday amid an uptrend in the export market.
Ferrous scrap suppliers from Europe continue to raise collection prices as demand for scrap from foreign outlets is quite strong, especially in Turkey, where buyers continue accepting higher prices. Since the beginning of April, scrap prices have rebounded by around $50/mt in Turkey and are now approaching $260/mt cfr for HMS 1&2 (80:20) from the USA or the Baltic region.
Export sales, both from Belgium and the Netherlands, are scarce due to the limited availability of cargoes. Inflow of material to the yards remains slow despite rising dockside prices because the automotive industry and demolition sector are still struggling to restart operations after COVID-19 related suspensions.
The Davis Index for HMS 1 in the ARAG region increased by €10/mt ($11/mt) to €190/mt delivered dockside on Tuesday, while the index for bonus scrap rose by €10/mt ($11/mt) to €195/mt delivered dockside.
(€1 = $1.10)