Following last month's retreat, German ferrous scrap prices have moved higher again in April, although along the River Ruhr, the gain was not as substantial. The strengthening scrap prices were attributed to demand from Turkish steel mills, which was said to have been concentrated on the European market after buyers failed to source enough material in North America.
Export prices for shipments to Turkey stood around €10 higher than they had last month. In contrast, demand from Italian mills was subdued. Steel makers continued to have their backs to the wall, market insiders told EUWID. Low prices for construction steel products allow them little leeway to raise their scrap purchasing prices. Domestic demand and demand from neighbouring regions was generally good. Mills in Germany's north reportedly made some purchases while taking delivery of only limited volumes. Overall, though, demand exceeded supply.
