Davis Index’s monthly German ferrous consumer scrap indices increased by €87/mt ($105/mt) on average, depending on grade and location, following the conclusion of mill-yard negotiations in January.
Domestic ferrous scrap tags surged over the past month as local steel producers tried to prevent material from being diverted towards export markets, where suppliers have benefitted from stronger prices.
While little has materially changed in the way of German steel and ferrous scrap supply-demand fundamentals over the past month, Turkish HMS 1&2 (80:20) import prices have surged by $72.50/mt to a recent peak of $482.50/mt over this period.
North German ferrous scrap indices increased by €67-96/mt in January for Sorte 1 (E1) at €340/mt, Sorte 2 (E2) at €369/mt, Sorte 3 (E3) at €365/mt, Sorte 4 (E40) at €371/mt, Sorte 5 (E5) at €305/mt, and Sorte 8 (E8) at €370/mt all on a delivered North German consumer basis.
East German ferrous scrap indices increased by €86-95/mt delivered East German consumer over the past month for Sorte 1 (E1) at €325/mt, Sorte 2 (E2) at €350/mt, Sorte 3 (E3) at €345/mt, Sorte 4 (E40) at €350/mt, Sorte 5 (E5) at €315/mt, and Sorte 8 (E8) at €350/mt.
South German ferrous scrap indices increased by €75-95/mt over the past month for Sorte 1 (E1) at €335/mt delivered South German consumer, Sorte 2 (E2) at €355/mt delivered, Sorte 3 (E3) at €350/mt delivered, Sorte 4 (E40) at €355/mt delivered, Sorte 5 (E5) at €310/mt delivered, and Sorte 8 (E8) at €360/mt delivered.
West German ferrous scrap indices surged by €80-98/mt over the past month for Sorte 1 (E1) to €350/mt, Sorte 2 (E2) to €365/mt, Sorte 3 (E3) to €363/mt, Sorte 4 (E40) to €365/mt, Sorte 5 (E5) to €320/mt, and Sorte 8 (E8) to €373/mt all on delivered West German consumer basis.
(€1 = $1.21)