The weekly Davis Index for northern Spain’s small bulk HMS 1&2 (80:20) ferrous scrap was flat at €223/mt ($241/mt) cfr and remained unchanged for shredded scrap at €228/mt cfr on Friday.
The flurry of activity in the seaborne market, particularly to Turkey, which saw indices climb more than $50/mt during the first half of April has run out of steam causing reluctance among some Spanish mills who noted, they expected offers to come down before concluding negotiations for fresh cargoes.
One UK-based trader commented that some participants were also taking a “breather” from the seaborne market having dealt with a relatively “active” first two weeks of April.
The weekly index for UK small bulk HMS 1&2 (80:20) ferrous scrap held at €191/mt fob and was unchanged for shredded ferrous scrap at €196/mt fob on Friday.
($1 = €0.93)