Davis Index’s weekly UK HMS 1&2 (80:20) ferrous scrap indices increased £5/mt to £280/mt in the north while they were unchanged at £275/mt in the south, delivered dockside, on Tuesday.
North UK ferrous scrap dockside purchase prices increased £5/mt with one UK bulk processor heard aggressively bidding for HMS 1&2 feed at £290/mt, delivered dockside, in the northeast.
Elsewhere, south UK dockside rates were little changed with most bulk ferrous scrap exporters waiting for cues from major seaborne trade routes.
Recent weakness emerging in Turkish ferrous scrap import prices in the past 24 hours has prompted some bulk processors to contemplate revising their purchase prices lower soon.
Those merchant and bulk suppliers that concluded business with domestic smelters in early July may have benefitted from selling at a recent peak, with mills paying £5-8/mt up on last month.
The weekly indices for UK OA (Plate & Structural) reflected the moves in HMS 1&2 with north up £5/mt to £305/mt and south unchanged at £300/mt, delivered dockside, respectively.
Davis Index’s weekly north and south UK 5A/5C (frag feed) ferrous scrap indices remained unchanged at £180/mt, on the same basis.
(£1 = $1.39)