The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region decreased by €3/mt ($3.50/mt) to €207/mt delivered dockside on Tuesday amid an inactive export market.
Most ferrous scrap suppliers in the Netherlands and Belgium opted to cut collection prices as export sales ceased more than 10 days ago after Turkish importers became silent and switched to steel product sales.
Negative sentiment is gaining momentum as negotiations are scarce in the European scrap market and no bids have been heard from Turkey.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both also declined by €3/mt ($3.50/mt) to €217/mt delivered dockside and €222/mt delivered dockside, respectively, on Tuesday.
(€1 = $1.17)