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 weekly ferrous scrap indices increased by €15-17/mt ($18-21/mt) to €400/mt and €415/mt cfr, respectively, on Friday.


Spanish ferrous scrap import indices jumped again over the past week, though they still lagged overall pricing action on major seaborne trade routes, particularly to Turkey.  


A Spanish trader commented that the market unsuccessfully tried to lock domestic buyers into fresh sales, despite parabolic increases in the export market. Moreover, local suppliers were reluctant to commit to firm sales until seaborne benchmarks had plateaued and more clarity could unfurl.


A UK-origin Spanish-offered cargo of Bonus or Shredded cargo was heard to have been bid and offered at around €380-395/mt fob this week.  


Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices increased by €20/mt to €375/mt and €388/mt fob, respectively, during the week.


(€1 = $1.22)


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