Davis Index’ weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indexes increased €8/mt ($9/mt) over the past week to €218/mt and €228/mt cfr, respectively, on Friday July 27.
Robust export demand for bulk and containerized ferrous scrap from buyers in Turkey, India and Pakistan prompted most EU and UK processors to lift dockside purchase prices by €5-7/mt over the same period to secure stable inflows.
Moreover, one UK-based bulk ferrous scrap supplier noted that strong export demand had encouraged buyers to increase bids by £2-3/mt per day over the past week; enabling processors to pass on higher collection prices.
Similarly, Davis Index’ UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indexes witnessed hikes of €10/mt over the same period at €203/mt and €213/mt fob, respectively, on July 24.
(€1 = $ 1.16)