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

Davis Index’ weekly northern Spain HMS 1&2 (80:20) and shredded ferrous scrap small bulk indices dropped by €3/mt ($3/mt) to €218/mt and €228/mt cfr, respectively, on Friday.

 

A UK-based trader highlighted the near-term vulnerability in the Spanish import market despite modest price hikes on major seaborne trade routes, particularly to Turkey. The trader added that domestic supply availability had seemingly improved, and this resulted in buyers’ bids softening from the prior week’s levels.

 

A Spanish buyer commented that import prices had now corrected and normalized to what they considered the right level but noted that they would now have to compete with other deep-sea markets for future cargoes.

 

Davis Index’ UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices were unchanged over the same period at €205/mt and €215/mt fob, respectively, on June 12.

 

(€1 = $ 1.13)

Leave a Reply

Your email address will not be published.