Spanish scrap prices decrease to the lowest level of the last two years

If the latest expected decrease of €20/tonne ($21.9) is confirmed in the next few days, scrap prices will return to levels last seen in April 2021.

Following material shortages since early April, prices have continued to decrease over the past two weeks.

Another market participant noted that major producers are assessing the direction of the Turkish scrap market and expect a change in prices in the next few days.

Another source estimated that the general slowdown in European markets will last until mid-May. The source added that a sharp increase in scrap prices is expected following the upcoming presidential elections in Turkey.

In the local Spanish market, the new E8 grade is available at a delivered price of €400/t ($439.9). Both E40 and demolition grade E3 are priced at €385/t, while E1 grade is priced at €350/t on the same basis.