The weekly Davis Index for EU ARAG HMS 1&2 (75:25) ferrous scrap dropped by €11/mt ($12/mt) to €199/mt delivered dockside on Tuesday, as fresh deals in the Turkish market prompted bulk exporters to drop collection prices.
The Davis Index for ARAG HMS 1 ferrous scrap also witnessed a decline of €10/mt to €208/mt delivered, while the Index for Bonus (Plate & Structural) ferrous scrap saw a more modest fall of €5/mt over the same period to €218/mt delivered on Tuesday.
All collection prices have fallen in tandem with the deep-sea deals concluded on Jan 30 for HMS 1&2 (80:20) at $267.50/mt cfr and $270/mt cfr Turkey for US- and Baltic-origin material respectively.
€1 = US$1.10 as on February 4, 2020.