Local German scrap prices fall in March as anticipated

Friday, 22 March 2024 17:01:42 (GMT+3)   |   Istanbul
       

Domestic scrap prices in Germany have declined over the past month as SteelOrbis had anticipated. The lack of India as an export option was putting pressure on the European market, as did the downward movement of Turkey’s import scrap prices. European steel prices were not providing support for the scrap segment.

At present, European collection prices are at around €310-315/mt DAP, down from the levels recorded at €335-340/mt at the end of February. Supply has not recovered as fast as imagined by players in early March. There is still slowness in scrap generation and collection. While Turkey was putting pressure on the market, the collection prices of EU-based export yards only declined to €290/mt DAP and most players said there was almost no flow to yards. “The prices are determined by supply and a balance is still not sustained,” a scrap supplier commented. While the fluctuation of the scrap market is expected to continue, there is no downward potential mentioned for now. A German sub-collector commented, “We from time to time tried to lower prices and what we see is that those below €300-305/mt DAP are not working, not for those collecting scrap from streets, not for us as middle men and not for export yards.” Domestic scrap prices in Germany are expected to remain stable with potential to move up in April.

According to the latest data provided by the BDSV, in the first 20 days of March, scrap prices moved down by €11.3-20.9/mt month on month. Additionally, the year-on-year performance has showed a fall in the range of €9.2-50.1/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: March 2024(€/mt)

Price: February 2024(€/mt)

Price: March 2023 (€/mt)

Monthly Change (€/mt)

Annual change (€/mt)

E1 - Old steel scrap

307,3

325,4

357,4

-18,1

-50,1

E2/E8 - New steel scrap

343,6

358,1

381,7

-14,5

-38,1

E3 - Heavy old steel scrap

343,8

358,9

384,4

-15,1

-40,6

E40 - Shredded scrap

349,2

370,1

397,8

-20,9

-48,6

E5M - Steel turnings

279,2

290,5

288,4

-11,3

-9,2

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


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