Prices on the German ferrous scrap market remain very volatile. Despite momentum from the export business, domestic prices again weakened in July. For traders, however, sales volumes were more important than price. Trading volumes were exceptionally low, according to market participants. With a view to summertime mill shutdowns, some of which had already begun, many German steel producers had minimal demand for scrap. At the same time, traders say scrap arisings are only moderate due to the prices and seasonal trends.
It is difficult to provide forecast prices and the direction the market will take in August and thereafter, respondents say. Given the deteriorating market conditions and the intensifying energy crisis, there is generally significant uncertainty in the markets....
