Davis Index’s weekly north and south UK HMS 1&2 (80:20) ferrous scrap indices were unchanged over the past week at £235/mt ($331/mt) delivered dockside, respectively.
UK dockside purchase prices plateaued with most bulk processors still able to procure sufficient volumes without having to raise rates, despite the recent strength in major export markets.
For example, Turkish HMS 1&2 (80:20) import benchmarks jumped by $21/mt over the past week to $434.84/mt cfr Turkey on Feb 22. At the same time, Davis Index has heard anecdotal evidence that two separate UK-based traders had booked trial batches of containerized ferrous scrap to China in the past 24 hours.
Nevertheless, many UK bulk exporters are rumored to be holding sufficient stocks to meet this modest rebound in orders.
The weekly indices for north and south UK OA (Plate & Structural) were unchanged at £255/mt delivered dockside, respectively, on Feb 23.
Davis’ north and south UK 5A/5C (frag feed) ferrous scrap indices were flat at £145/mt delivered dockside, respectively, over the past week.
(£1 = $1.41)