Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices edged up by €3/mt ($4/mt) over the past week to €298/mt and €308/mt cfr, respectively.
Bids and offers for shortsea small bulk coasters increased by €5/mt over the past week, as the market took its cues from major seaborne trade routes.
Given the comparatively smaller size of this market, Spanish ferrous scrap import prices tend to rise and fall at a relatively modest pace. For example, Davis Index’s HMS 1&2 (80:20) ferrous scrap import benchmark increased by $12.36/mt to $409.86/mt in the seven days to February 11. That said, no cargoes were booked, or negotiations concluded as buyers’ and sellers’ bid-offer spreads remained too wide.
Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices nudged higher by €2/mt to €277/mt and €287/mt fob, respectively, during the week.
(€1 = $1.21)