Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices fell by €8/mt ($10/mt) to €310/mt and €320/mt cfr, respectively, on Friday.


Indicative levels for Spanish HMS 1&2 (80:20) ferrous scrap import benchmarks declined by €8/mt over the past week, as buyers dropped their bids in response to weaker prices in major trade routes.


Suppliers stubbornly maintained their offer levels close to the last recorded transactions and, as a result, no deals were concluded over the past week given the wide bid-offer spread.


One Spanish-based ferrous scrap trader commented that some mills had more inventory than they could currently consume, hence their relatively firm stance with lower bids.


Another buyer stated that one mill in Spain had been idled until the middle of February for the installation of a new walking beam furnace.


Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices declined by €18/mt to €280/mt and €290/mt fob, respectively, on Jan 29.


(€1 = $1.21)


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