Domestic scrap prices in Germany have continue to follow the trend observed in Turkey. Deep sea scrap prices for Turkey increased by $12/mt in the first half of January, while scrap collection activities have still been negatively impacted by the cold weather conditions. One European source said, “Scrap flow was hit by the snow storms which stopped demolition work.” European sub-collectors have reported that the flow to export yards and to domestic steel mills is on the low side, and domestic mills have also been forced to accept higher price levels.
European scrap collection prices are currently at around €335-340/mt DAP, €5-10/mt higher as compared to the levels recorded earlier this month. Direct sales from European sub-collectors to India seem to have stopped and market players say that the problems experienced in the Red Sea prevent them from attempting sales to this destination. One source said, “We expect prices to move down because India is out of the picture.” A second sources stated, “European steel prices are set to move up, but it is mainly due to high scrap and energy costs.” For now, domestic scrap quotations in Germany are expected to at least remain stable in March, if not pushed up by exports.
According to the latest data provided by the BDSV, in the first 20 days of January, scrap prices rose by €4.2-15.5/mt month on month. Additionally, the year-on-year performance has showed diverse trends, prices for some grades even remained stable. 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: January 2024(€/mt) |
Price: December 2023(€/mt) |
Price: January 2023 (€/mt) |
Monthly Change (€/mt) |
Annual change (€/mt) |
|
E1 - Old steel scrap |
321.9 |
317.1 |
321.9 |
4.8 |
0.0 |
|
E2/E8 - New steel scrap |
356.8 |
341.3 |
354.1 |
15.5 |
2.7 |
|
E3 - Heavy old steel scrap |
353 |
341.2 |
353.2 |
11.8 |
-0.2 |
|
E40 - Shredded scrap |
363.4 |
359.2 |
363.8 |
4.2 |
-0.4 |
|
E5M - Steel turnings |
282.1 |
269.7 |
353.5 |
12.4 |
-71.4 |
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