Davis Index’s monthly UK 1&2, 3B, and OA ferrous scrap consumer indices jumped by £45-50/mt ($62-69/mt) to £280/mt, £295/mt, and £300/mt delivered mill, respectively, following the conclusion of mill-yard negotiations in March.

 

British monthly ferrous scrap settlements reversed February’s declines in March, with mill purchase prices climbing at a faster pace than those seen in the UK dockside market over the past month. UK ferrous scrap dockside purchase prices have only climbed £25-30/mt, as British mills have had to pay a premium to secure sufficient volumes from heading to bulk exporters.

 

Davis Index understands that merchant UK ferrous scrap suppliers have demanded a troubled large UK smelter pay cash prior to delivery, and in some cases a premium, for material, given that it has experienced challenges securing sufficient tonnages.

 

Davis Index’s monthly UK 4A/4C, 8A/8B, and 12A/C ferrous scrap consumer indices increased by £45/mt to a range of £303-308/mt delivered mill, respectively, over the same period.

 

(£1 = $1.38)

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