Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices climbed by £6-7/mt ($8-10/mt) to £224/mt and £223/mt delivered dockside, respectively, on Tuesday.
UK ferrous scrap dockside buyers returned to the market following seasonal holidays this week with modest price hikes conceded in the first negotiations of the new year.
British dockside purchase prices have remained low compared with developments on major seaborne trade routes, given that buyers have exercised notable discipline.
For example, UK HMS 1&2 (80:20) dockside rates have only increased by $77/mt compared with a surge of $188/mt for the same grade exported to Turkey over the past 10 weeks.
The weekly indexes for north and south UK OA (Plate & Structural) climbed by £4-5/mt to £235/mt and £234/mt delivered dockside, respectively, on Jan 5.
Davis’ north and south UK 5A/5C (frag feed) ferrous scrap indexes also increased by £8/mt to £138/mt, delivered dockside, respectively, over the past week.
(£1 = $1.36)