Davis Index’s monthly German ferrous consumer scrap indices increased by around €10/mt ($12/mt), depending on grade and location, following the conclusion of mill-yard negotiations in August.

 

German ferrous scrap buyers noted that purchasing activity had picked up over the past two weeks, as the outlook for September’s domestic production schedules improved in response to growing order books for construction steel.

 

While local electric arc furnaces producing construction-grade steel have been operating between 40-60pc capacity utilization, some German mills expect operating rates to climb to somewhere close to 80pc next month.

 

At the same time, domestic ferrous scrap benchmarks have also been buoyed by the recent strength in major seaborne market over the past month as German steel producers have had to raise their purchase prices to secure sufficient tons.

 

North German monthly ferrous scrap indices declined by €10-19/mt for Sorte 1 (E1) to €199/mt, Sorte 2 (E2) to €213/mt, Sorte 3 (E3) to €213/mt, Sorte 4 (E40) to €217/mt, Sorte 5 (E5) to €176/mt, and Sorte 8 (E8) to €213/mt.

 

In East Germany ferrous scrap indices fell by €2-6/mt over the past month for Sorte 1 (E1) to €190/mt, Sorte 2 (E2) to €209/mt, Sorte 3 (E3) to €214/mt, Sorte 4 (E40) to €214/mt, Sorte 5 (E5) to €178/mt, and Sorte 8 (E8) to €217/mt.

 

Davis Index’s South German ferrous scrap indices dropped by €7-10/mt over the past month for Sorte 1 (E1) to €197/mt, Sorte 2 (E2) to €209/mt, Sorte 3 (E3) to €204/mt, Sorte 4 (E40) to €209/mt, Sorte 5 (E5) to €185/mt, and Sorte 8 (E8) to €213/mt.

 

The West German ferrous scrap indices decreased by €9-14/mt over the past month for Sorte 1 (E1) to €208/mt, Sorte 2 (E2) to €213/mt, Sorte 3 (E3) to €215/mt, Sorte 4 (E40) to €218/mt, Sorte 5 (E5) to €188/mt, and Sorte 8 (E8) to €224/mt.

 

(€1 = $1.18)

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