Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices edged up by €5/mt ($6/mt) and €2/mt to €238/mt cfr and €250/mt cfr, respectively, on Friday.
Spanish ferrous scrap import prices consolidated around the upper ranges recorded in the prior week, as little new business was conducted this week. UK and European suppliers commented that the market had been eerily quiet, likely a result of extended annual vacations in southern Europe.
At the same time, easing major seaborne benchmarks, particularly to Turkey, has prompted market participants to wait on the sidelines until the next flurry of bookings reveal price direction.
Meanwhile, Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded remained unchanged over the same period at €206/mt fob and €219/mt fob, respectively, on September 18.
(€1 = $1.18)