The scrap market in Europe has witnessed price increases in some countries as of April 1, following the stagnation observed during the week of March 25. According to information provided by SteelRadar, HMS 1/2 (80:20) scrap in the Netherlands increased from USD 351 on March 25 to USD 355 during the week and was last traded at USD 359, an increase of USD 4. In the Benelux region, the HMS 1/2 (80:20) market followed a similar trend, with scrap trading at USD 295 in the week to March 18, before rising by USD 5 to USD 300 in late March and early April.
Italy's E3 scrap market was reportedly stable as of April 1, trading at EUR 360, down EUR 10 from EUR 360 in the week to March 18, according to Assofermet, the Italian Steel Trade Association, noting the significant drop in demand and the great uncertainty in the scrap market. This stagnation in Italy was observed in Germany on a similar trend.
SteelRadar data revealed that the E40 market, which has been trading at EUR 378 since the week of March 3, has been stable throughout the month and maintained this level as of April 1.
Sources said that most steel products across Europe experienced a decrease in March and scrap was also affected by this decrease. At the same time, underlining the uncertainty in the scrap market, the sources emphasized that a fluctuating period has begun.
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