Local German scrap prices have moved up over the month of November, though the increases recorded were slight for most grades, with a drop even seen for E3 grade scrap prices. The initial expectation was for a decline in prices in November, market sources cited the lack of demand in the international market and sub-collectors’ dissatisfaction with low price levels. However, Turkey’s appetite for deep sea scrap improved faster than anticipated and international scrap prices moved up very quickly, supporting the local German scrap market.
The month of December will be a short one for business due to the approaching holiday season. Usually, German sub-collectors prefer not to sell high tonnages before the end of the year due to tax purposes. Also, SteelOrbis hears that the recent deals with export yards were done in the range of €310-315/mt DAP, while some European exporters also find these price levels to be on the high side. Meanwhile, domestic prices and export prices in the EU are almost in line with each other. The cold weather conditions will increase domestic freight costs, while slowing down the flow of scrap.
According to the latest data provided by the BDSV, in the first 20 days of November, scrap prices moved up by €0.7-15.4/mt month on month, except prices for E3 grades which declined by €0.4. Additionally, the year-on-year decrease is now in the range of €6.8-13.2/mt for E2/E8/E3/E40 grades, while other grades indicate an increase of €5.9-9.7/mt. Prices are average prices for domestic transactions across Germany in the first 20 days of the given month. The prices are provided by Bundesvereinigung Deutscher Stahlrecycling-und Entsorgungsunternehmen e.V. (BDSV).
Scrap grade |
Price: November 2023(€/mt) |
Price: October 2023(€/mt) |
Price: November 2022 (€/mt) |
Monthly Change (€/mt) |
Annual change (€/mt) |
E1 - Old steel scrap |
285.8 |
270.4 |
276.1 |
15.4 |
9.7 |
E2/E8 - New steel scrap |
317.4 |
316.7 |
330.6 |
0.7 |
-13.2 |
E3 - Heavy old steel scrap |
312.9 |
313.3 |
319.7 |
-0.4 |
-6.8 |
E40 - Shredded scrap |
328.7 |
325.6 |
340.3 |
3.1 |
-11.6 |
E5M - Steel turnings |
246.4 |
244 |
240.5 |
2.4 |
5.9 |
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
