Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices jumped by €4/mt ($5/mt) to €354/mt and €364/mt cfr, respectively, on Friday.
Spanish ferrous scrap import prices may have peaked over the past week, with suppliers only able to secure €4/mt increases, despite initially offering HMS 1&2 (80:20) cargoes at closer to €365/mt.
Mill buyers likely leveraged rumors that deepsea deals to Turkey for HMS 1&2 (80:20) had been struck at significantly lower prices earlier in the week ranging from $447-465/mt cfr.
At the same time, EU dockside collection prices were heard to have also softened by up to €20/mt towards the latter end of this week.
Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices were unchanged from the prior week at €328/mt and €338/mt fob, respectively, on Jan 15.
(€1 = $1.21)