Davis Index’s monthly German ferrous consumer scrap indices increased on average by €2/mt ($2/mt), depending on grade and location, following the conclusion of mill-yard negotiations in October.

 

German ferrous scrap buyers entered into negotiations this month with bids of €5/mt lower compared with transactions from the prior month, however, it soon became apparent that mills had to increase bids to secure volumes in response to robust local demand.

 

East Germany-based mills were prompted to pay €3-6/mt higher compared with the prior month as a result of reduced ferrous scrap availability from Polish suppliers, given that they could achieve higher prices in their local market.

 

Steel mills in North and South Germany generally registered smaller price hikes compared to mills in other regions, largely as a result of reduced competition between domestic and export markets, particularly to Italy and Turkey.

 

North German ferrous scrap indices varied by -€3/mt and €3/mt over the past month for Sorte 1 (E1) to €215/mt, Sorte 2 (E2) to €233/mt, Sorte 3 (E3) to €232/mt, Sorte 4 (E40) to €238/mt, Sorte 5 (E5) to €198/mt, and Sorte 8 (E8) to €233/mt.

 

East German monthly ferrous scrap indices increased by €3-6/mt for Sorte 1 (E1) to €211/mt, Sorte 2 (E2) to €230/mt, Sorte 3 (E3) to €235/mt, Sorte 4 (E40) to €240/mt, Sorte 5 (E5) to €198/mt, and Sorte 8 (E8) to €235/mt.

 

South German ferrous scrap indices fluctuated by €0-2/mt over the past month for Sorte 1 (E1) to €208/mt, Sorte 2 (E2) to €219/mt, Sorte 3 (E3) to €215/mt, Sorte 4 (E40) to €218/mt, Sorte 5 (E5) to €193/mt, and Sorte 8 (E8) to €225/mt.

 

West German ferrous scrap indices varied -€3/mt and €8/mt over the past month for Sorte 1 (E1) to €220/mt, Sorte 2 (E2) to €239/mt, Sorte 3 (E3) to €234/mt, Sorte 4 (E40) to €235/mt, Sorte 5 (E5) to €203/mt, and Sorte 8 (E8) to €245/mt.

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