Davis Index’s weekly north and south UK HMS 1&2 ferrous scrap indices both jumped by £10/mt to £170/mt ($223/mt) delivered dockside on Tuesday.
UK bulk exporters raised dockside purchase prices to secure sufficient volumes and fill booked vessels despite softening major seaborne scrap prices over the past week. While British ferrous scrap processing margins have narrowed as a result, one trader commented that they remained relatively healthy at around £30-40/mt.
Another UK-based trader noted that they were standing by in anticipation of the next flurry of bookings from Turkish buyers.
The weekly indices for both north and south UK OA (Plate & Structural) increased by £10/mt to settle at £193/mt delivered dockside on Tuesday.
Davis Index’s north and south UK 5A/5C (frag feed) ferrous scrap indices both climbed by £5/mt to £95/mt, delivered dockside over the same period.
(£1 = $1.31)