After the significant markdowns that emerged last month, April has brought a series of rollovers to ferrous scrap prices in Germany. The market was treading water and there was little in the way of momentum pushing prices in one direction or another, scrap merchants told EUWID.
Negotiations with steel producers were wrapped up fairly swiftly in April as a result. Steel mills were interested in putting pen to paper quickly and mostly left prices untouched.
All things considered, the market remains difficult. Steel business developments in Europe, and especially in Germany, are lagging behind those on the global stage, the German steel federation Wirtschaftsvereinigung Stahl recently noted, citing the latest forecasts issued by the industry association Worldsteel.
Market players viewed the persistently poor supply of iron and steel scrap as the main reason why prices had rolled over rather than head lower. They also noted that ferrous scrap sales to Turkey, the leading export market for German recyclers, continued to falter in April.
Read the full monthly report on the ferrous scrap market in Germany and access the current prices and graphing tools here:
