Despite the initial expectations of a movement in a narrow price range during November, domestic scrap prices in Germany have fallen significantly over the past month. According to sources, “This is a reflection of the decline observed on the export side, and also the lower demand received from the German mills.” During September, local German scrap prices did not follow the global trend and indicated a relatively stable trend, hence the decrease recorded in November was larger compared to other regions.
However, SteelOrbis hears that the recovery of scrap demand received from Turkey is supporting the local German scrap market. In the east of the country, mills are increasing their procurement quotations to maintain scrap flow, which has been quiet low. As mentioned in previous reports, German collectors are in no rush to accept new contracts, just interested in meeting their commitments rising from the previous deals with German producers. “Everything I sell from now on carries the risk of me paying higher taxes. Even if I collect scrap, I will stock it and wait for next year,” a sub-collector in Germany commented. German sources expect prices in the local market to move up in line with the international market and are hopeful for better quotations at the beginning of 2023.
According to the latest data provided by the BDSV, in the first 20 days of November scrap prices moved down by €5.3-21.2/mt month on month. Additionally, the year-on-year decrease is now in the range of €56.2-116.3/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 2022(€/mt) |
Price: October 2022(€/mt) |
Price: November 2021 (€/mt) |
Monthly Change (€/mt) |
Annual change (€/mt) |
E1 - Old steel scrap |
276.1 |
297.3 |
336.3 |
-21.2 |
-60.2 |
E2/E8 - New steel scrap |
330.6 |
346 |
446.9 |
-15.4 |
-116.3 |
E3 - Heavy old steel scrap |
319.7 |
326.3 |
396.2 |
-6.6 |
-76.5 |
E40 - Shredded scrap |
340.3 |
345.6 |
396.5 |
-5.3 |
-56.2 |
E5M - Steel turnings |
240.5 |
251.4 |
325.2 |
-10.9 |
-84.7 |
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
