According to the bvse, the Turkish consumers’ rush on the European Deep Sea stocks during April and a slight increase in domestic demand from the rebar mills during May led to a price increase.

Depending on the type of scrap the increase averaged EUR 20 per tonne and in some cases even as much as EUR 30 - 40 per tonne. This development was partly in line with what some of the traders had expected and those who reacted quickly to the demand for scrap showed considerable delivery willingness. The export possibilities which had been available and the increase in demand – approximately 1/3rd higher than in the previous month – from those mills still producing led to euphoria amongst market participants on both sides. After about two weeks, in the absence of further Turkish orders, the euphoria soon evaporated. Not all the scrap offered found buyers and it became apparent that the increase in demand from the mills had only been order-related.

As a result of the demand from one mill (which was running at full capacity) the highest price increases were registered in South and South West Germany. In the West and the East the average price increase was EUR 20 per tonne, although the mills in the West showed little or no demand. Influenced by the export market the mills in the North were under the impression that they needed to secure an inflow of scrap and the prices rose by EUR 20 - 30 per tonne. However, since week 20 the market has generally stagnated.

For further information, please visit http://www.sekundaer-rohstoffe.com/html/schrottmarkt.html. You will find the link at the end of the German report.

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