Local German scrap prices increase slightly in February

Friday, 23 February 2024 14:10:35 (GMT+3)   |   Istanbul
       

Domestic scrap prices in Germany have increased slightly over the past month. The limited increase in local scrap prices was the result of low scrap flow in the EU against the backdrop of the change of mood in the European flat steel market. Despite the positive expectations recorded at the beginning of February, sentiment in the flat steel segment has subsequently changed in the region. Also, the decline recorded in Turkey’s import scrap market has taken its toll on the European scrap segment, causing downward pressure on prices despite the slow scrap flow.

Currently, European scrap collection prices are at around €335-340/mt DAP, €10-15/mt lower as compared to the levels recorded earlier this month. Market players think that warmer weather in the region may cause scrap supply to recover slightly in March. “Since India is not an option for exports right now due to the increased freight rates and cancellations of insurance, the gap between steel turnings and HMS I/II 80:20 scrap is too high. We know that Turkey does not use turnings but still this exerts downward pressure on prices. The European steel market does not support scrap. We may see another drop in the local EU scrap market in March. Our estimation is for a decline of at least €15/mt,” a Germany-based sub-collector stated today, February 23.

According to the latest data provided by the BDSV, in the first 20 days of February, scrap prices moved up by €1.3-8.4/mt month on month. Additionally, the year-on-year performance has showed diverse trends, with the year-on-year change for steel turnings attracting attention. 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: February 2024(€/mt)

Price: January 2024(€/mt)

Price: February 2023 (€/mt)

Monthly Change (€/mt)

Annual change (€/mt)

E1 - Old steel scrap

325,4

321,9

328,3

+3,5

-2,9

E2/E8 - New steel scrap

358,1

356,8

361,1

+1,3

-3,0

E3 - Heavy old steel scrap

358,9

353

357,1

+5,9

+1,8

E40 - Shredded scrap

370,1

363,4

367,7

+6,7

+2,4

E5M - Steel turnings

290,5

282,1

267,6

+8,4

+22,9

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


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