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 weekly ferrous scrap indices jumped by €32-35/mt ($39-42/mt) to €385/mt and €398/mt cfr, respectively, on Friday.


Spanish ferrous scrap import indices surged over the past week largely tracking pricing action on major seaborne trade routes, particularly to Turkey. Davis Index’s Turkish HMS 1&2 (80:20) ferrous scrap import index jumped approximately $50/mt over the past week to a recent peak of $503/mt on May 11.


A European-origin Spanish-bound cargo of HMS 1&2 (80:20) was heard to have been sold at around €385/mt cfr northern Spain early this week. Since then, fresh bids from Spanish ferrous scrap buyers appear to have plateaued compared with the last concluded transactions.


Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices increased by €30-33/mt to €355/mt and €368/mt fob, respectively, during the week.


(€1 = $1.21)

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