Davis Index’ weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices edged €3/mt ($4/mt) higher to €228/mt and €238/mt cfr, respectively, on Friday.
The Spanish small bulk ferrous scrap import prices have lagged other markets over the past week in response to a lack of fresh deals with some market participants away for extended vacations.
Turkish HMS 1&2 (80:20) import tags have jumped by €12.5/mt to $295/mt cfr in the week to August 28 compared with a more modest increase of $4/mt to Spain.
Similarly, Davis Index’ UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded climbed by €2/mt over the same period to €207/mt and €217/mt fob, respectively, on Friday.
One British-based scrap exporter commented that Spanish import prices “must” increase during the next round of negotiations.
(€1 = $ 1.19)