Spanish mills forced to accept price increase

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.