21 February 2011
Ferrous scrap merchants have increased offers to Spanish mills, despite fears that rebar exports may suffer due to political disturbances in North Africa.
Depending on the trader, grades were on offer at €5-20 ($6-27) per tonne more than last week’s transactions.
Shredded material in containers stood at €330-335 per tonne cfr northern Spain, up from a transacted price of €325 per tonne cfr last week.
HMS 1&2 was available for €310-315 per tonne cfr, up €5 from a booking of ex-UK material made at the end of last week.
There was also demand for OA scrap at €330-335 per tonne cfr, while new cuttings were offered at €355-360 per tonne cfr.
A domestic scrap merchant increased prices by €20 per tonne delivered for every grade this week, supported by stronger demand.
Meanwhile, a UK-based scrap processor received an offer for containerised shredded scrap at £265 ($430) per tonne ex-yard, after rejecting offers of €5 per tonne more at the end of last week.
“I believe the market was over-corrected and mills will need to increase [offer] prices to secure volumes,” the scrap processor said.
Some Spanish merchants are increasingly cautious as political instability affects export markets in North Africa.
“There’s no need to push prices up too much, even though some agents are asking for more and more,” a Spanish merchant said.
“There is more [finished product] demand than [I’d] expect in this situation though,” the merchant said.
Depending on the trader, grades were on offer at €5-20 ($6-27) per tonne more than last week’s transactions.
Shredded material in containers stood at €330-335 per tonne cfr northern Spain, up from a transacted price of €325 per tonne cfr last week.
HMS 1&2 was available for €310-315 per tonne cfr, up €5 from a booking of ex-UK material made at the end of last week.
There was also demand for OA scrap at €330-335 per tonne cfr, while new cuttings were offered at €355-360 per tonne cfr.
A domestic scrap merchant increased prices by €20 per tonne delivered for every grade this week, supported by stronger demand.
Meanwhile, a UK-based scrap processor received an offer for containerised shredded scrap at £265 ($430) per tonne ex-yard, after rejecting offers of €5 per tonne more at the end of last week.
“I believe the market was over-corrected and mills will need to increase [offer] prices to secure volumes,” the scrap processor said.
Some Spanish merchants are increasingly cautious as political instability affects export markets in North Africa.
“There’s no need to push prices up too much, even though some agents are asking for more and more,” a Spanish merchant said.
“There is more [finished product] demand than [I’d] expect in this situation though,” the merchant said.
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