German scrap prices are increasing for March due to increased demand and exports. Another reason for this situation is that Turkish manufacturers need to replenish their stocks after the devastating earthquake.
Scrap exports in Germany decreased in January-November 2022. Their volumes reached 7.2 million tons, down 11% compared to the previous year. As of March 2023, German scrap prices have increased by €10-30/tonne ($11-32).
According to the information obtained from the local steel mills, the scrap shipments to Turkey are too high in line with the demands. Mostly due to the interest in E3 scrap, the demand for old scrap is more than the supply.
In the upcoming period, it is expected that prices will continue to increase as European steelmakers restart their idle facilities and increase production accordingly. In addition, exports to and to Turkey will also have a significant impact on rising prices.
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