Davis Index’ weekly northern Spain HMS 1&2 (80:20) and shredded ferrous scrap small bulk indices extended recent declines by another €5/mt over the past week to €205/mt and €215/mt cfr, respectively, on Friday.
Weaker Turkish and continental European ferrous scrap consumption continued to undermine major seaborne benchmarks over the past week, both UK and EU ferrous scrap dockside purchase tags have fallen in tandem during that period.
Following recent declines in Turkish HMS 1&2 (80:20) ferrous scrap import prices, some Spanish steel producers have been able to push and achieve further discounts down to €205/mt on their import requirements over the past week.
Davis Index’ UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices dropped by €8/mt over the same period to €185/mt and €195/mt fob, respectively, on July 3.
(€1 = $ 1.12)