Small bulk shortsea markets rebounded over the past week with suppliers raising offer prices €20/mt, citing stronger European demand.
Davis Index’s northern Spain HMS 1&2 (80:20) and shredded small bulk weekly ferrous scrap indices increased €5-7/mt ($6-8/mt) to €383/mt and €400/mt cfr, respectively, on Friday.
While offer prices for HMS1&2 to Spain have approached €400/mt, Spanish bids have certainly not increased at the same pace as buyers try to delay sharp price hikes.
Davis Index understands that the last transacted price was approximately €380-385/t cfr Northern Spain, though some suppliers claim that is now well out of the market.
One large European-based supplier commented that they had recently sold E1 (old light ferrous scrap) at €400-410/mt, delivered to mill, in the past 48 hours.
The same bulk exporter noted that as a result offer the price of €400/mt for HMS 1&2 to northern Spain might soon become a reality.
Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices nudged €4/mt to €350/mt and €370/mt fob, respectively, during the week.