German ferrous scrap sees fragile recovery in September

Prices climbed again in September.
23.09.2020 − 

Ferrous scrap prices in Germany have risen for the second month in a row. A brisk export business at the beginning of the month combined with a rebound in demand from domestic steel mills.

The scrap traders surveyed by EUWID were mainly upbeat as they look ahead to October. The market continues to be robust and extreme upward or downward price movement was unlikely, they predicted. Nevertheless, the respondents cautioned against being overly optimistic. The macroeconomic trend remains very fragile, not only because of the coronavirus crisis but also due to other geopolitical risks, they note. One market participant said he had no faith that the revival will last.

The developments on the market in recent weeks were "pleasantly unspectacular", commented one trader. Market players said that, given the current circumstances, they were satisfied. The order situation at the steel mills had apparently improved. Besides the ongoing boom in the construction industry, there were now once again more positive signals coming from the automotive sector, which is seeing an up-tick in incoming orders for electric and especially hybrid vehicles.

The full report on the ferrous scrap market in Germany will appear in the next print and e-paper issue of EUWID Recycling & Waste Management (20/2020) out on 30 September. Online subscribers can access the report immediately here:

Ferrous scrap in Germany



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