Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices edged up by £2/mt ($3/mt) to £225/mt, delivered dockside, respectively, on Tuesday.
UK’s dockside ferrous scrap prices consolidated at the higher end of their range over the past week, taking positive cues from a marginal firming in major seaborne benchmarks.
Over the past week, Davis Index’s Turkish HMS 1&2 (80:20) ferrous scrap import benchmark nudged $2/mt higher to $442.44/mt cfr Turkey on Apr 5.
Trade in the UK has been comparatively lethargic as the market waits on a firm direction from negotiations with deepsea buyers. At the same time, domestic monthly mill-yard negotiations have also diverted attention away from dockside trade for the first 10 days of the month. A UK-based merchant noted that one large local smelter had opened negotiations down £5/mt compared with March’s levels.
The weekly indices for north and south UK OA (Plate & Structural) climbed £5/mt to £245/mt, delivered dockside, respectively, during the week.
Davis’ weekly north and south UK 5A/5C (frag feed) ferrous scrap indices were unchanged at £140/mt, on the same basis.