Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices climbed by £2/mt ($3/mt) to £235/mt, delivered dockside, respectively, on Tuesday.
UK dockside ferrous scrap purchase prices consolidated around the upper boundary, as merchants found it more challenging to eke out incremental price hikes. The market has “lacked direction” for the past couple of weeks, amid monthly domestic negotiations and slack export demand from Turkish mills.
Davis Index’ Turkish HMS 1&2 (80:20) ferrous scrap import index declined $10/mt over the past week to $420.65/mt cfr Turkey on April 19. Still, depressed Turkish activity and relatively lower export prices appear to have spurred inquiries from India-based buyers over the past 24 hours.
The weekly indices for north and south UK OA (Plate & Structural) edged £1/mt higher to £250/mt, delivered dockside, respectively, during the week.
Davis’ weekly north and south UK 5A/5C (frag feed) ferrous scrap indices remained unchanged at £145/mt, on the same basis.