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

Davis Index’ weekly northern Spain HMS 1&2 and shredded small bulk ferrous scrap indices jumped €13/mt ($16/mt) over the past week to €255/mt and €265/mt cfr, respectively, on Nov 27.


Bids and offers for short sea bulk ferrous scrap cargoes to Spain played catch up over the past week to recent price developments in major seaborne trade routes.


In fact, Turkish HMS 1&2 (80:20) ferrous scrap import prices have surged $41.81/mt over the past two weeks to $349.95/mt on Nov 26.


While Spanish buyers lifted their bids €10/mt over the past week, they remain €10/mt below the offers of UK and European suppliers.


As a result, UK suppliers have continued to offer more cargoes to northern European destinations as well as for transhipment on to Turkey, given a more profitable arbitrage along these routes.


Davis Index’ UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded also jumped €13/mt compared with the prior week to €235/mt and €245/mt fob, respectively, on November 27.


(€1 = $1.19)


Leave a Reply

Your email address will not be published.