In Benelux, HMS 1/2 (80:20) scrap prices decreased by EUR 3 to EUR 310 during the week of August 12. This decrease is considered to be a reflection of the demand contraction in the overall market. Economic uncertainties, especially in Europe, are believed to have put pressure on scrap demand.
In Germany, scrap E40 prices remained stable at 380 EUR. The fact that Germany has a more stable economic structure contributes to the protection of scrap prices from volatility. At the same time, Europe's summer vacation period also contributed to the stable prices.
The situation is similar in Italy. E3 scrap prices remained stable at EUR 338. Italy's steelmaking capacity and steady local demand have helped stabilize prices. However, economic weakness across Europe and the possibility of higher energy costs may lead to changes in the Italian scrap market in the future.
In the Netherlands, HMS 1/2 (80:20) prices decreased by USD 8 to USD 352. Sources noted that the decline was due to the country's export-oriented economy being affected by the weakening global demand. Decreasing demand, especially from major consumer countries such as China and the US, has a negative impact on scrap prices in the Netherlands.
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