Following October's price cuts, steel scrap prices moved in the opposite direction in Germany in November. The rising prices are supported by very high workloads at German steel mills.
Some merchants and scrap generators had held back material in October due to the reduction in prices. Moreover, this year had reportedly gone very well, meaning that a few merchants wanted to carry some material forward for a good start to the new year.
Not all mills have apparently received the budgeted amounts. Steel mills had to send a message on pricing in November to secure their supply of scrap. Market insiders mentioned that many mills were not planning to take downtime at the year’s end and were purchasing scrap as long as the weather is good so that they are not caught off-guard by a sudden onset of winter.
The full report on the German steel scrap market including the table with price changes appears in issue 24/2017 of EUWID Recycling and Waste Management on 29 November 2017. Online subscribers can already already access it here: