Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices climbed by €3/mt ($3/mt) to €233/mt cfr and €243/mt cfr, respectively, on Friday.
The range within which new deals for Spanish HMS 1&2 (80:20) ferrous scrap imports were concluded, widened to €230-235/mt cfr Northern Spain over the past week.
A European-based ferrous scrap supplier was relatively bullish noting that the market seemed to be warming up following the recent price strength in major seaborne trade routes. However, the same trader was concerned about the medium-term outlook for steel and underlying ferrous scrap demand following fresh COVID-19-related lockdowns in the UK, France, and Germany.
Meanwhile, Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded edged €2/mt lower to €205/mt fob and €215/mt fob, respectively, on October 30.
One UK-based bulk ferrous scrap exporter commented that some suppliers marginally reduced their levels to accommodate heftier freight rates.
(€1 = $1.16)