Davis Index’s weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices declined by €3/mt ($4/mt) to €225/mt cfr and €235/mt cfr, respectively, on Friday.
Spanish ferrous scrap import benchmarks nudged lower over the past week, as suppliers conceded modest discounts in the latest round of negotiations.
One UK-based ferrous scrap trader commented that Spanish import prices had failed to climb relative to major seaborne benchmarks at their peak and by virtue, the downside has been limited by comparison.
Recent declines of £5/mt and €5/mt in the respective UK and European dockside ferrous scrap purchase prices should remove some degree of support from import tags in the next round of negotiations.
Meanwhile, Davis Index’s UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded were unchanged at €194/mt fob and €204/mt fob, respectively, on October 9.
(€1 = $1.18)