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Spanish short sea scrap prices fall $12 Turkish deep sea market

Spanish short sea scrap prices fall $12 Turkish deep sea market

MADRID: Prices for short-sea scrap imports arriving in Spain have fallen by €10 ($12) per tonne over the past week, which could lead to a dip in Turkish deep-sea import scrap prices, market sources told Metal Bulletin on Tuesday January 16. Weaker demand from Spanish mills has led to a fall in short-sea import prices for United Kingdom-origin HMS 1&2 (80:20), which was €280-283 per tonne cfr northern Spanish ports on Tuesday, according to one Southern European trader. “Some of the steel mills will cut production during February, [so] can afford to purchase most of their needs from the domestic market,” he said. “The market dropped for short-sea [scrap] because the Turkish deep-sea market is not moving,” one Northern European buyer said.