Davis Index’ weekly northern Spain HMS 1&2 (80:20) and shredded ferrous scrap small bulk indices rose by €2/mt ($2/mt) over the past week to €210/mt and €220/mt cfr, respectively, on Friday.
An unexpected flurry of Indian and Pakistani demand for UK containerized ferrous scrap exacerbated the impact of fresh Turkish bookings on scrap availability over the past week.
As a result, both UK and EU bulk ferrous scrap exporters raised dockside purchase prices to secure sufficient material and in turn passed on a portion of the increase to the buyers.
Similarly, the Davis Indexes for UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded witnessed hikes of €5/mt over the same period at €193/mt and €203/mt fob, respectively, on July 17.
(€1 = $ 1.14)