Davis Index’ weekly northern Spain HMS 1&2 (80:20) and shredded small bulk ferrous scrap indices remained unchanged at €225/mt ($265/mt) and €235/mt cfr, respectively, on Friday.
With major seaborne ferrous scrap benchmarks softening over the past week, Spanish-based buyers have withdrawn from the market until suppliers revise their offers lower.
In fact, reliance on imported material has significantly dwindled given the relatively healthy availability and cost competitiveness of local supply.
Similarly, Davis Index’ weekly UK small bulk ferrous scrap HMS 1&2 (80:20) and shredded indices were also unchanged at €205/mt and €215/mt fob, respectively, on Friday.
(€1 = $ 1.18)