Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices fell by €15/mt ($18/mt) to €295/mt and €305/mt cfr, respectively, on Friday.
Spanish ferrous scrap buyers were heard to have completely pulled their bids this week, while the UK and North European sellers dropped HMS 1&2 (80:20) offer prices by €5/mt.
This was insufficient to spark any interest or purchasing activity, given that local prices of equivalent grades (E3) are trading at €285/mt delivered mill.
A Spanish trader commented that there was “currently no price or market for imports” and that some suppliers in the Basque Country (northern Spain) were able to sell to Turkey.
Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices declined by €5/mt to €275/mt and €285/mt fob, respectively, on Feb 5.
(€1 = $1.20)