The weekly Davis Index for northern Spain’s small bulk HMS 1&2 (80:20) and for shredded ferrous scrap dropped by €6/mt ($5/mt) to €217/mt and by €5/mt to €223/mt cfr, respectively, on Friday.
Shortsea small bulk ferrous scrap markets benefitted from improved demand from Spanish steel mills that became relatively more active over the past week. However, one Spain-based ferrous scrap buyer bemoaned the lag between Spanish import prices and the recently sharp declines in Turkish import prices of the same grade.
In fact, the Davis Index for Turkish HMS 1&2 (80:20) ferrous scrap import declined by $16/mt over the past week to $239.43/mt cfr Turkey on April 30.
In UK, small bulk ferrous scrap suppliers were encouraged to reflect these price developments in their most recent transactions.
The weekly Davis Index for UK small bulk HMS 1&2 (80:20) and shredded ferrous scrap fell by €16/mt to €175/mt and €180/mt fob, respectively, on Friday.
(€1 = $ 1.10)