Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices climbed by €5/mt ($6/mt) to €242/mt cfr and €252/mt cfr, respectively, on Friday.
Shortsea bulk ferrous scrap suppliers to Spain were unable to push through any price hikes over the past week, despite significant increases in major seaborne trade routes.
Turkish HMS 1&2 (80:20) ferrous scrap import prices have jumped by $24/mt over the past week, while UK dockside HMS 1&2 (80:20) dockside purchase prices have lifted by £6-7/mt ($8-9/mt) over the same period. Instead, UK suppliers chose to offer more cargoes to northern European destinations as well as for transshipment on to Turkey.
Spanish mills only modestly lifted their official bids which stand approximately €10/mt below offers from the UK and European shortsea ferrous scrap suppliers.
Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded jumped by €11/mt compared with the prior week to €222/mt and €232/mt fob, respectively, on November 20.
(€1 = $1.19)
(£1 = $1.33)