The scrap market in Germany has also remained in line with the trend in other European markets this week, outlining an overall unchanged market.
Early announcements by steelmakers for June scrap purchases are standing generally at May levels, with the exception of a mill in eastern Germany that is reported to have adjusted last month's scrap purchase prices with an uptick of around €10/mt.
A source at a major trader commented, "The local German [scrap] market in June will not be much different from May, and the volumes purchased by mills are at about the same levels as last month." Another source, on the other hand, said he has the feeling that prices will fall shortly.
On the export side, meanwhile, purchase prices for HMS I/II 80:20 at export yards have remained stable at €295/mt DAP, and for the moment this level is remaining firm, although the possibility of a downward correction is not excluded.
