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 jumped by €17/mt ($21/mt) to €350/mt and €360/mt cfr, respectively, on Friday.


Spanish ferrous scrap import prices leapt higher following the return of participants to the market after seasonal holidays.


Prior to the break, Spanish import benchmarks lagged pricing dynamics and developments seen on major seaborne trade routes – particularly to Turkey. While a price hike was largely expected by most, the degree of increase was up for debate given that Iberian mills have been able to lean on local suppliers to avoid sharp increases in the export market.


Following the conclusion of a shortsea small bulk transaction this week at €350/mt for HMS 1&2 (80:20) cfr northern Spain, one UK supplier expressed disappointment with the sale being “too low”.


Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded also increased by €21/mt compared with the prior week to €328/mt and €338/mt fob, respectively, on Jan 8.


(€1 = $1.22)


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