German steel scrap market quiet in August

Germany’s ferrous scrap business is proving to be a bastion of calm in August. Supply and demand are balanced at a low summer-time level. Prices have fallen minimally by up to €5 per tonne. Turkish buyers are not placing any orders at present. Turkish mills apparently have yet to source 1.1 million tonnes of scrap that they will need in September. The question of whether they will turn to Central Europe when making these purchases may be key for prices in the region.