Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices declined by £5/mt ($7/mt) to £258/mt delivered dockside, respectively, on Tuesday.
UK dockside ferrous scrap purchase prices were slashed further over the past week, as bulk exporters responded to relatively slack demand and weaker export prices, particularly to Turkey.
As such, the reduction in dockside rates has been executed to protect narrower margins and also stem the flow of material across the weighbridge until such time that demand picks up.
The weekly indices for north and south UK OA (Plate & Girder) fell by £5/mt to £285/mt, delivered dockside, respectively.
Davis Index’s weekly north and south UK 5A/5C (frag feed) ferrous scrap indices also dropped by £5/mt to £170/mt, on the same basis.