Davis Index’s northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices fell by €7/mt ($8/mt) to €331/mt and €341/mt cfr, respectively, on Friday.
Spanish ferrous scrap import prices declined over the past week following the conclusion of a sale earlier in the week at close to around €330/mt cfr northern Spain for HMS 1&2 (80:20).
Since that time, however, ferrous scrap benchmarks on major seaborne trade routes have rebounded from recent lows.
As a result, the UK and north European-based suppliers have lifted offer prices to Spain in anticipation of further strength in the near term.
Davis Index has heard of at least one large UK-based bulk ferrous supplier that has lifted 1&2 dockside purchase prices by £5-10/mt this week. These could transpire into relatively higher shortsea and deepsea export prices within the next week.
Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices remained unchanged at €300/mt and €310/mt fob, respectively, during the week.
(€1 = $1.21)