The situation on Germany’s steel and ferrous scrap market remains strained, although sales were not quite as dire in October as they had been in September. The additional plunge in ferrous scrap prices that a few market players had predicted with some concern when EUWID conducted its previous market survey has failed to materialise. Brisker exports to Turkey and the Far East, in particular, and the return of Italian steel producers pinned up the price of scrap on the German market. On the domestic market, prices largely tended to track sideways, with small mark-ups also possible for more sought-after and scarcer old steel scrap grades. Downward pressure was felt primarily on new steel scrap grades. There was almost no demand for this grade from flat steel producers because ordering from the automotive industry was down. ...
Strengthening export business propping up the price of ferrous scrap in Germany
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