Spanish mills forced to accept price increase
Reports out of
Spain indicate that mills there have been forced to accept
scrap price rises in recent months. Sources say this is mainly due to the powerful position of the
UK and due to Irish
scrap exporters in the current market.
The
UK and
Ireland supply about one third of
Spain's total yearly
scrap requirement of 13-14 million tons. Since domestic suppliers are following the trend and requesting higher prices, mills haven't had any choice but to follow up with price increases as well.
Sources report a firm market and say that prices rose by about €15-20/mt since the end of last year.