A more defined situation is beginning to emerge in the German scrap market during the third week of June.
While some scrap price increases had been recorded last month against a generalized stability in other European markets, Germany has showed a mainly stable trend in terms of scrap purchase prices in June, while other European markets such as Italy are starting to show some signs of weakness.
In the northern, eastern and southwestern parts of the country, mills have bought scrap at mainly unchanged levels, while in the western region scrap prices have been revised upwards by around €10/mt by a single producer that realigned its price with market levels. In southern Germany, scrap prices have increased by around €5/mt.
According to sources, two of the largest German steel producers have purchased E1 scrap at €285/mt and €290/mt, respectively.
As for export markets, export yards have also decreased their purchase prices of HMS I/II 80:20, from the previous €290-295/mt DAP to about €285/mt DAP, down by about €10/mt week on week in the wake of the declines recorded in import prices in Turkey. However, according to one source, "Prices could soon reach €280/mt [DAP]."
