The recently launched weekly Davis Indexes for UK small bulk HMS 1&2 (80:20) and shredded ferrous scrap decreased to €135/mt ($154/mt) fob and €140/mt fob, respectively, on Friday as demand retreated.

 

UK-based small bulk exports have been left with little option but to sell parcels to north European traders for transshipment to destinations further afield, following the closure of many European steel mills, particularly ferrous scrap-intensive electric arc furnaces.

 

Some of the UK-based ferrous scrap processors who have the benefit of deep-sea terminals, have diverted a proportion of their material to alternative destinations such as South and Southeast Asia.

 

The Davis Index for northern Spain HMS 1&2 (80:20) decreased €180/mt cfr while the index for shredded ferrous scrap dropped to €185/mt cfr based on established relativities as Spanish steel mills have completely vacated the market and withdrawn all bids.

 

(€1 = $1.099)

 

Leave a Reply

Your email address will not be published.