The monthly Davis Index for Sorte 3 (E3) ferrous scrap plunged €23/mt over the past month to €220/mt delivered to mill in February, following the conclusion of mill-yard negotiations.
Some mills had entered the market in late January with bids €15/mt below last month’s price before following up with another reduction of up to €15/mt in mid-February.
The indices for Sorte 1 (E1) and Sorte 4 (E40) ferrous scrap declined by €28/mt and €25/mt to €205/mt and €240/mt, respectively, from the prior month.