Davis Index’s monthly Spanish consumer ferrous scrap indices decreased by €7/mt ($8/mt) following the conclusion of recent deals in mid-July.
Domestic HMS 1&2 (80:20) prices fell to a low of €205/mt, delivered to mill, at the beginning of July, before forming a price floor given the limited supply options and volumes available at those levels. As a result, some Spanish steel mills recently purchased cargoes all the way up to €210/mt last week and refrained from booking alternative options available at much higher levels of €215-220/mt.
Scrap supplies from local sources represent a modest discount given that a premium must be paid to transport shipments from ports, while domestic HMS 1&2 (80:20) cargoes have been trading at almost identical levels to Spanish small bulk ferrous scrap import prices.
Davis Index’s E1 (old thin), E3 (old thick), and E40 (shredded) indices declined by €7/mt across all grades to €188/mt delivered to mill, €208/mt delivered, and €218/mt delivered, respectively.
(€1 = $ 1.14)