The weekly Davis Index for HMS 1&2 (75:25) in the ARAG region increased by €4/mt ($5/mt) to €317/mt delivered dockside on Tuesday in a revived export market.
Collection prices for ferrous scrap rose in the Netherlands and Belgium after suppliers closed deals to Turkey at higher prices in the range of $417.25-421/mt cfr for European-origin HMS 1&2 (80:20), last week.
European exporters are targeting $425/mt cfr Turkey for HMS 1&2 (75:25) and $430/mt cfr for HMS 1&2 (80:20) in anticipation of bookings continuing this week. Suppliers are also bullish due to the slow inflow of material to the docks.
The weekly Davis Indexes for HMS 1 and bonus scrap in the ARAG region both increased by €4/mt ($5/mt) to €327/mt delivered dockside and €332/mt delivered, respectively, on Tuesday.