Ferrous scrap prices move sideways in Germany in April amid uncertain market environment

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Uncertainty continues to shape the German ferrous scrap market. Supplies of scrap are still limited and demand is modest but can vary substantially from region to region and mill to mill. Moreover, the Turkish export business has also been weak recently, which is putting pressure on steel scrap prices. Nevertheless, domestic prices mostly moved sideways in April.

The monthly EUWID survey found that scrap traders and recyclers tend to have a pessimistic outlook right now. They think prices are likely to head lower. But for these market players, steady volume flows are even more important than prices. Traders and recyclers are thus more worried about steel producers’ sometimes weak order situation and sluggish demand for scrap.

"Things are not going well,” said one respondent, summarising the current situation on the markets for steel and for ferrous scrap. It is particularly striking that business is so uneven. For example, steel producers’ scrap demand varied markedly from mill to mill in April, and this had been the case in March as well. Some – usually smaller – mills that apparently had not stocked up in the previous month were looking for scrap and willing to pay unchanged or even slightly higher prices. Elsewhere, demand was more modest and buyers were able to achieve price cuts – at least for individual scrap grades....

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