Davis Index’s monthly German ferrous consumer scrap indices rose by €20-35/mt ($3-8/mt), depending on grade and location, following the conclusion of May mill-yard negotiations.
German mills opened negotiations with bids unchanged compared with April settlements in early May, while suppliers targeted an increase of at least €5-10/mt.
That said, a surge in major seaborne scrap prices prompted both domestic mills and suppliers to revise higher workable levels.
Most mills subsequently raised bids by €30/t above April levels by mid-May, while suppliers met them with offers at prices at least €25/t higher compared with last month’s prices.
North German ferrous scrap indices increased by €23-27/mt delivered mill for Sorte 1 (E1) to €350/mt, Sorte 2 (E2) to €390/mt, Sorte 3 (E3) to €382/mt, Sorte 4 (E40) to €385/mt, Sorte 5 (E5) to €320/mt, and Sorte 8 (S8) to €389/mt.
East German ferrous scrap indices rose by €26-24/mt delivered mill for E1 to €357/mt, E2 to €377/mt, E3 to €389/mt, E40 to €383/mt, E5 to €335/mt, and S8 to €377/mt.
South German ferrous scrap indices climbed by €5-29/mt delivered mill over the past month for E1 to €346/mt, E2 to €375/mt, E3 to €378/mt, E40 to €380/mt, E5 to €308/mt, and S8 to €375/mt.
West German ferrous scrap indices moved up by €26-30/mt delivered mill over the past month for E1 to €365/mt, E2 to €386/mt, E3 to €381/mt, E40 to €385/mt, E5 to €340/mt, and S8 to €386/mt.
(€1 = $1.22)