Polish scrap prices have registered an overall stable trend in March. In the meantime, with Turkish mills resuming scrap purchases, the export market is showing signs of recovery.
As for the local market, according to IPHGZ, the Polish Metallurgical Chamber of Industry and Commerce, the average scrap purchase price for delivery to yards in March was registered at PLN 1,078/mt (around €252/mt) for W2 scrap equivalent to HMS I and at PLN 1,173/mt (around €274/mt) for W7 scrap equivalent to bonus grade, respectively higher by PLN 2/mt (€0,47/mt) and PLN 7/mt (€1,63/mt) compared to February.
According to one source, the finished steel market in Poland is going through a hard time, with almost no demand observed. For this reason, many mills have decided to slow down production and reduce their scrap orders for April. With higher energy and production costs, it is likely that these mills will try to ask for lower scrap prices next month, but, at the same time, with the growing competition from the export market, there is a chance that the desired trend might not materialize.
After being absent for some time, scrap exporters in Poland are now offering again thanks to the recovery of Turkey’s import scrap market, and one major Polish exporter closed a deal for HMS I/II 80:20 scrap to a Turkish buyer at $390/mt CFR on Wednesday, March 25. Finally, according to SteelOrbis’ information, HMS I collection prices at Polish export yards have risen slightly from the previous €272/mt DAP to €275/mt DAP.
€1 = PLN 4.28