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

Davis Index’s northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices jumped €20/mt ($24/mt) over the past week to €355/mt and €365/mt cfr, respectively.


Ancillary markets have continued to play catch up though the pace of growth in Turkish ferrous scrap import prices has slowed over the past week. 


Turkish HMS 1&2 (80:20) import prices climbed only $11/mt in the past week to $464.50/mt cfr Turkey on March 4. However, peripheral shortsea small bulk ferrous scrap markets, such as Spain, have seen increases of €20/mt over the same period. A UK-based trader noted how freight rates to Spain had increased to over €30/mt, making cargoes significantly more expensive for Iberian buyers.


Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices increased by €19/mt to €329/mt and €339/mt fob, respectively, during the week.


(€1 = $1.19)


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