Davis Index’ weekly northern Spain HMS 1&2 (80:20) and shredded ferrous scrap small bulk indices rebounded by €3/mt ($3/mt) to €208/mt and €218/mt cfr, respectively, on Friday, bucking recent declines.
Some Belgian and Dutch ferrous scrap suppliers raised dockside purchase prices earlier this week to secure more volumes to fill new orders from Turkish mills. It would appear most of these adjustments have also been passed on to Spanish mills.
Spanish steel mills purchased seaborne HMS 1&2 (80:20) ferrous scrap cargoes from a recent low of €205/mt up to €210/mt this week, though hikes were capped as mills were able to secure sufficient material from local suppliers at cheaper prices too.
Similarly, Davis Index’ UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices witnessed hikes of €3/mt over the same period at €188/mt and €198/mt fob, respectively, on Friday.
(€1 = $ 1.13)