Ferrous scrap traders had intended to put the difficult year 2013 behind them as quickly as possible and to focus on 2014. The year began well enough in January. However, the first disappointment in February has been followed by another palpable price drop of about €15 per tonne in March, according to the latest EUWID market survey. Traders who sold early in the month had to make even greater concessions. However, market players believe prices may have bottomed out.
Upstream suppliers and demolition companies are obviously pursuing the same line of thought and have withheld supplies in anticipation of higher prices. Scrap recyclers' intake volumes are reportedly up to a third lower than normal. In the case of new scrap, the inflow varies from region to region. Generally speaking, there is no evidence of the upbeat reports on the vibrant state of the German economy being reflected in new scrap arisings at the generators' sites.