Prices on the German steel scrap market recorded a noticeable decline in February. Market sources attributed it to a variety of factors, but concurred that exports had pointed the way when it came to the trend in prices.
Quite a few merchants reported a widespread fall. Yet, others underscored that declining prices were due to mill-specific factors, such as order books and scrap inventories, and did not feel that a pattern could be discerned for any specific grade or region. Some deliveries also commanded unchanged prices compared to January.
However, exports had pointed the way when it came to the trend in prices. Deep-sea export prices had been falling for weeks, and Turkey had been ordering scrap mainly from the USA in the recent past, market observers reported.