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

Davis Index’s northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices edged €4/mt ($5/mt) higher to €335/mt and €345/mt cfr, respectively, on Friday.


Another more recent sale of heavy melt to Spain was heard at €330/mt cfr northern Spain earlier in the week, while offer prices have now shot up to around €340/mt on the same basis.


In the meantime, ferrous scrap benchmarks on major seaborne trade routes have extended recent hikes over the past week, climbing another $8/mt.


UK-based bulk exporters have also further raised dockside prices and, as a result, offers to Spain, in anticipation of an impending flurry of Turkish purchasing activity.


As usual, Spanish buyers have curbed the recent upside potential in import prices by leaning on supplies of domestically sourced material.


UK shortsea ferrous scrap exporters have enjoyed more favourable rates by selling coasters on to transhippers in Belgium and the Netherlands.


Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices increased by €12/mt to €312/mt and €322/mt fob, respectively, during the week.


(€1 = $1.21)


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