According to SteelRadar data, Netherlands' HMS 1/2 (80:20) scrap prices, which rose by 2 USD to 354 USD on 2 April, hovered between 352-354 USD last week. Starting the week of 13 May with a decrease of 2 USD, Netherlands' scrap prices dropped back to 352 USD. Sources said that expectations were negative.
According to SteelRadar data, E40 grade scrap continues to stabilise at EUR 368 in Germany. Jens Björkman, chairman of Stena Metal's raw material suppliers committee, said that scrap production in the EU has fallen by 15-20% depending on the region due to slow economic conditions, but the market could improve if interest rate cuts are implemented.
E3 grade scrap in Italy dropped to EUR 353 last week from EUR 360 in late April and early May. In the week of 13 May, Italian E3 scrap prices continued to trade at the same price. Benelux HMS 1/2 (80:20) scrap started the week with a decrease of EUR 5 compared to steady Italian E3 scrap. According to SteelRadar data, the scrap, which gained momentum by EUR 5 to EUR 318 during the week of 6 May, dropped by EUR 5 on 13 May and resumed trading at EUR 313. Benelux sources emphasised that there were no significant sales requests, while price pressure continued.
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