The German ferrous scrap market remained broadly stable in June. Recycling companies reported solid demand from steelmakers in Germany and neighbouring countries. The only weak spot was the export market to Turkey, where activity eased and exporters at the ARAG ports reduced their buying prices.
Domestic steel producers, meanwhile, largely left scrap prices unchanged from the previous month. Market participants expect that to change in July, however. With the summer holiday period approaching, and some mills due to begin shutdowns as soon as the end of June, traders anticipate weaker scrap demand and lower prices next month. A sharp decline in scrap prices is not expected, however, not least because scrap arisings remain subdued....
