Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices declined by €6/mt ($7/mt) and €8/mt to €232/mt cfr and €242/mt cfr, respectively, on Friday.
The last concluded transactions for HMS 1&2 (80:20) imported into Spain were conducted in the range of €230-235/mt, cfr northern Spain, over the past week. Since then, Spanish buyers were heard to have reduced bids to around €225/mt to reflect developments on major seaborne trade routes, particularly to Turkey.
The UK and North European exporters have partly pushed back on these lower bids in response to relatively high dockside purchase prices. At the same time, one supplier commented that they were unwilling to discuss discounts given how staunch some mills had been in accepting price hikes over the past couple of months.
Meanwhile, Davis Index’ UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded declined by €8/mt over the same period to €198/mt fob and €211/mt fob, respectively, on September 25.
(€1 = $1.16)