21/08/14 – German steel scrap prices up modestly in August

 

German ferrous scrap prices edged a little higher in the month of August. Steel scrap was scarce on the whole, even though production in steel mills has declined because of the holiday season and technical reasons. Healthy demand for ferrous scrap from Turkey was a key factor influencing the market.

Turkish mills are apparently sourcing European scrap as they restock their inventories, which they had kept low. One reason for the purchases in Europe is the retreat of the euro, which has backed down from its recent very high exchange rate. Another factor is the busy North American steel industry. US ferrous scrap consumers’ activity levels ensure that the amount of scrap available for export from across the Atlantic is insufficient, sources reported.

 

 
Source – EUWID-Recycling.com