Davis Index’s monthly German ferrous scrap indices declined by €8-32/mt ($9-38/mt), depending on grade and location, following the conclusion of August’s monthly mill-yard negotiations.
German monthly mill-yard settlements for ferrous scrap declined over the past month due to relatively slower export demand and lower prices in deepsea trade routes, particularly to Turkey. That said, prices for new production ferrous scrap grades held up relatively well as a result of constricted generation rates, declining only by €8-10/mt in most regions, compared with the sharp declines of €15-32/mt witnessed in obsolete grades.
North German ferrous scrap indices declined by €8-18/mt delivered mill for Sorte 1 (E1) to €365/mt, Sorte 2 (E2) to €455/mt, Sorte 3 (E3) to €410/mt, Sorte 4 (E40) to €425/mt, Sorte 5 (E5) to €330/mt, and Sorte 8 (E8) to €460/mt.
East German ferrous scrap indices dropped by €20-23/mt for Sorte 1 (E1) to €380/mt, Sorte 2 (E2) to €430/mt, Sorte 3 (E3) to €410/mt, Sorte 4 (E40) to €425/mt, Sorte 5 (E5) to €345/mt, and Sorte 8 (E8) to €430/mt delivered mill.
South German ferrous scrap indices fell by €8-18/mt for Sorte 1 (E1) to €380/mt, Sorte 2 (E2) to €450/mt, Sorte 3 (E3) to €405/mt, Sorte 4 (E40) to €425/mt, Sorte 5 (E5) to €350/mt, and Sorte 8 (E8) to €450/mt delivered mill.
West German ferrous scrap indices plunged €8-32/mt for Sorte 1 (E1) to €385/mt, Sorte 2 (E2) to €465/mt, Sorte 3 (E3) to €420/mt, Sorte 4 (E40) to €440/mt, Sorte 5 (E5) to €355/mt, and Sorte 8 (E8) to €465/mt delivered mill.
(€1=$1.17)