Ferrous scrap prices rise significantly in Germany

German ferrous scrap prices soared higher as the New Year began. This surge was fuelled by demand from abroad, which gained additional momentum from the weak euro, according to the latest EUWID market report. Turkey was placing orders thick and fast until the middle of the second week in January. The old steel scrap orders placed by Turkish mills will be dispatched in February and are drawing material to Germany's ports. Insiders said that prices for container exports to India were very favourable. New steel scrap could also be exported, sources told EUWID, with orders coming from America.