Scrap markets across Europe have been predominantly decreasing since the beginning of the year and this had a direct impact on the Netherlands as well. According to SteelRadar data, HMS 1/2 80:20 for the Netherlands started 2024 at $373, but recorded its highest price of $393 at the start of February.
Underlining that the scrap market will remain stable for a while, sources added that the downward trend in prices will gradually stabilize, while an improvement is expected across Europe. For HMS 1/2 80:20, after a prolonged downward trend, the UK scrap domestic market is also expected to show only slight changes, with supportive sentiment suggesting that the stable trend continues, with no significant decreases in the domestic scrap market. Another source, speaking to SteelRadar, offered a contrarian view, indicating that significant decreases are likely to be seen until after the second quarter.
Netherlands HMS 1/2 80:20 dropped by $7 and $2 from $356 to $347 last week and reportedly not expected to experience significant changes in the second week of March, starting the second week of March unchanged at $347 on March 11.
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