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

Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices surged by €19/mt ($23/mt) and €22/mt to €287/mt cfr and €300/mt cfr, respectively, on Friday.


Shortsea bulk ferrous scrap tags were driven higher by stronger UK dockside purchase prices and robust demand from the competing shortsea and deepsea markets.


Ravenous ferrous scrap demand has now seen Turkish mills bring purchases forward for February shipment as they buy 60-90 days ahead compared with their traditional 30-day window.


This has partly contributed to the Turkish HMS 1&2 (80:20) ferrous scrap import index jumping $39/mt over the past week to $399.69/mt on Dec 10.


At the same time, major UK-based ferrous bulk exporters have recently raised HMS 1&2 (80:20) dockside purchase prices by a further £10/mt to a maximum of £200/mt, delivered to dock.


Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded also climbed by €24/mt and €22/mt compared with the prior week to €265/mt fob and €273/mt fob, respectively, on Dec 11.


(€1 = $1.21)

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