Following a rebound in some countries during the week of April 1, the European scrap market was down in some countries and generally stagnant as of April 8. According to SteelRadar, E40 scrap in Germany has been trading at EUR 378 since the week of March 3, but witnessed decreases during the first week of April and was last traded at EUR 368, down by EUR 10.
SteelRadar data showed that the HMS 1/2 (80:20) market in the Netherlands, which traded at USD 359 during the week of April 1, up by USD 8, was down by USD 6 as of April 8, with current prices trading at USD 353. In Benelux, HMS 1/2 (80:20) prices followed a similar trend to last week, with the scrap market last traded at USD 300 in late March and early April, up by USD 5 in the week to April 8.
Sources pointed out that the European scrap market has entered a fluctuating period and steel mills are skeptical that steel sales will increase in the short term, while Italy's E3 scrap market, which was last traded down by EUR 10 to EUR 360 on March 18, was stable as of April 8.
The sellers, who want buyers to stock up for 'green activities', have been pushing prices down deliberately, with significant increases expected after May.
Meanwhile, Albania reported a significant increase in prices, with FOB prices of HMS 1/2 (80:20) around USD 400.
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