Despite the initial expectations of a soft price trend in the local German scrap market, prices have moved up in June, with support coming from the export segment. As Turkey decided to move quickly early this month to conclude deep sea scrap purchases, export yards which had been trying to exert pressure on their collection prices changed their minds and raised their prices once again. Scrap prices also increased in June given the support coming from local mills and due to the lack of sufficient scrap generation in the EU.
Currently, scrap collection prices in the EU are in the range of €320-325/mt DAP Amsterdam and Belgium, up from the €310s/mt DAP levels observed earlier this month. Since levels lower than these do not provide enough incentive for the smaller collectors, the scrap market in the EU is expected to remain firm in the coming month.
According to the latest data provided by the Bundesvereinigung Deutscher Stahlrecycling-und Entsorgungsunternehmen e.V, in the first 20 days of May, scrap prices moved up by €2.4-7.1/mt month on month. Additionally, the year-on-year performance has showed an increase in the range of €14.5-42.9/mt.
The prices are provided by Bundesvereinigung Deutscher Stahlrecycling-und Entsorgungsunternehmen e.V.are average prices for domestic transactions across Germany in the first 20 days of the given month.
Scrap grade |
Price: June 2024(€/mt) |
Price: May 2024(€/mt) |
Price: June 2023 (€/mt) |
Monthly Change (€/mt) |
Annual change (€/mt) |
E1 - Old steel scrap |
311.3 |
308.4 |
285.2 |
2.9 |
26.1 |
E2/E8 - New steel scrap |
356.7 |
349.6 |
331.6 |
7.1 |
25.1 |
E3 - Heavy old steel scrap |
350.2 |
345.4 |
335.7 |
4.8 |
14.5 |
E40 - Shredded scrap |
361.1 |
358.7 |
337.8 |
2.4 |
23.3 |
E5M - Steel turnings |
289.2 |
284.7 |
246.3 |
4.5 |
42.9 |
Specifications:
E1 - Old steel scrap: thickness ≥ 4 mm, maximum dimensions 1,5 m x 0,5 m x 0,5 m
E2/E8 - New steel scrap: maximum dimensions 1,5 m x 0,5 m x 0,5 m
E3 - Heavy old steel scrap: thickness ≥ 6 mm, maximum dimensions 1,5 m x 0,5 m x 0,5 m
E40 - Shredded scrap: excluding incinerator steel scrap and collection scrap; density ≥ 1,1 mt/m3, Fe ≥ 92%
E5M - Turnings: excluding iron and automatic steel turnings
