The weekly Davis Index for EU ARAG HMS 1&2 (75:25) increased by €22/mt ($24/mt) to €220/mt delivered dockside on Tuesday.

 

The Davis Index for HMS 1 ferrous scrap also increased by €27/mt to €230/mt and the Index for Bonus (Plate & Structural) rose by €28/mt to €238/mt delivered dockside over the same period.

 

Declines in continental northern European ferrous scrap markets have reduced collection rates and tightened supply over the past few weeks.

 

Processors were compelled to significantly raise dockside buying prices to secure sufficient material to meet export demand, due to rebounding Turkish ferrous scrap import prices.

 

($1 = €0.92)

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