According to the scrap index of the European Steel Association EUROFER, local scrap prices in the European Union (EU) in January this year increased on month-on-month basis, but declined compared to the same month in 2011.
After several months of year-on-year increases, in the last two months the EU scrap indexes have declined compared to the corresponding months of the previous year. Moreover, in the month of January the decrease rate on year-on-year basis was stronger as compared to the year-on-year decline seen in December.
EU scrap prices index, January 2012 | |||
Quality | Value | Change m-o-m (%) | Change y-o-y (%) |
Demolition scrap (E3) | 326 | +8.3 | -9.44 |
New arisings (E2/E8/E6) | 319 | +5.98 | -12.36 |
Shredded (E40) | 321 | +7 | -10.33 |
*Note: 2001 average=100, while the indexes are based on €/mt average prices in France, Germany, Italy, Spain and United Kingdom.