Davis Index’ monthly Spanish consumer ferrous scrap indices remained unchanged over the past month following the conclusion of recent deals in mid-May.
Domestic steel consumption and corresponding production has not rebounded sufficiently to boost ferrous scrap demand, despite an easing of COVID-19 related lockdown measures across Spain.
The Davis Index monthly indices for E1 (old thin), E3 (old thick) and E40 (shredded) held at €190/mt, €210/mt and €220/mt, delivered Spain mill in May.
Meanwhile, Spanish ferrous scrap import prices edged up over the past week in response to firmer European dockside purchase tags and robust prices along major seaborne trade routes.
Davis Index’ northern Spain HMS 1&2 and shredded ferrous scrap small bulk indices climbed by €3/mt and €7/mt to €220/mt and €230/mt cfr, respectively, on Friday.
(€1 = $ 1.08)