While most of Germany’s local scrap prices have moved up over the month of May, E3 scrap prices have indicated a softening in this period. Turkey’s lack of appetite for deep sea scrap cargoes is one of the reasons, while the other has been the recovery of demand in the EU itself, especially in Italy.
Currently, scrap collection prices in the EU have decreased slightly. From the €315-320/mt DAP levels observed earlier this month, export yards are now paying €305-310/mt DAP. The same trend is observed in the Baltic region, where export yards are paying €310-315/mt DAP, down €5/mt from earlier levels. Players in the local Italian and Spanish markets are also informing SteelOrbis that a soft trend is expected in June. While the summer season may help speed up the flow of scrap in the region, currently it is largely reported that, with the existing price levels, flow to export yards is slow. The weak finished steel markets are not helping the situation, both in the EU and Turkey. Hence, a soft trend is expected in the coming month for the local German scrap market.
According to the latest data provided by the Bundesvereinigung Deutscher Stahlrecycling-und Entsorgungsunternehmen e.V, in the first 20 days of May, scrap prices mostly moved up by €0.9-4.2/mt month on month, while there was a €1.1/mt fall seen for E3 grades. Additionally, the year-on-year performance has showed an increase in the range of €6.4-21.9/mt for E1 and E5M grades, but the other prices have declined by €1.5-14.1/mt in this period.
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: May 2024(€/mt) |
Price: April 2024(€/mt) |
Price: May 2023 (€/mt) |
Monthly Change (€/mt) |
Annual change (€/mt) |
|
E1 - Old steel scrap |
308,4 |
307,5 |
302 |
0,9 |
6,4 |
|
E2/E8 - New steel scrap |
349,6 |
346 |
351,1 |
3,6 |
-1,5 |
|
E3 - Heavy old steel scrap |
345,4 |
346,5 |
359,5 |
-1,1 |
-14,1 |
|
E40 - Shredded scrap |
358,7 |
357,6 |
360,2 |
1,1 |
-1,5 |
|
E5M - Steel turnings |
284,7 |
280,5 |
262,8 |
4,2 |
21,9 |
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