According to the scrap index issued by the European Steel Association (EUROFER), local scrap prices in the EU in July followed a mild downtrend for the second month in a row, posting decreases in the range of 4-5 percent compared to June. The year-on-year comparison is negative for all scrap qualities by a double-digit percentage figure:
EU scrap prices index, July 2012 | |||
Quality | Value | Variation m-o-m (%) | Variation y-o-y (%) |
Demolition scrap (E3) | 290 | -4.91 | -10.49 |
New arisings (E2/E8/E6) | 289 | -3.98 | -13.73 |
Shredded (E40) | 286 | -4.66 | -10.06 |
When we consider the average value of the indexes in the first seven months of 2012, the year-on-year price reduction for new arisings stands out, with the decreases for other categories not reaching four percent.
EU scrap prices index, Jan-Jul 2012 | ||
Quality | Value | Variation y-o-y (%) |
Demolition scrap (E3) | 317.42 | -3.85 |
New arisings (E2/E8/E6) | 311.28 | -8.06 |
Shredded (E40) | 313.28 | -3.64 |
*Explanations: 2001 average=100, indexes are based on €/ton average prices in France, Germany, Italy, Spain and United Kingdom.