Spanish ferrous scrap prices rise as lockdown eases
Ferrous scrap prices rose in the Spanish domestic market as the government began to ease lockdown restrictions yesterday to allow workers in manufacturing, construction and some other industries to return to work under strict safety guidelines.
Many domestic scrap suppliers confirmed that some mills have already accepted price increases of €10-20/t because of low availability. Scrap collections from some sectors were virtually brought to a halt during the lockdown and lowered scrap flow by 50-75pc from last year. And many suppliers will only operate at a reduced capacity in the coming weeks.
"Our yards are almost empty and we are expecting to run at no more than 30pc of capacity for the first few weeks," one supplier said.
"It is too early to say when we will resume at full capacity. Strict measures are still in place and we also have to convince our workers that it is safe to work in our yards," another supplier said.
New delivered to mill prices for shredded scrap were heard mostly at a minimum of €220/t this morning. Many suppliers indicated that they will require another increase of €10-30/t in the coming days.
The Argus monthly Spanish domestic delivered to mill assessment will be published tomorrow.
By Chi Hin Ling
source: Argus Media
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