French, Belgian scrap prices tumble
French and Belgian domestic scrap prices are down €100/tonne ($104/t) in new May contracts. Similar falls of between €70-100/t are being seen in southern and Eastern European countries, Kallanish notes.
While availability of automotive grades has improved in France, demand is strong for cheaper demolition grades. French and Belgian prices of the mixed E8 grade are reaching €490-500/t delivered. E1C, a cheaper grade, is transacted this month at €440-450/t delivered, while E40 is dropping to €460 delivered, sources suggest.
Pressure is increasing on Benelux scrap export prices. At the start of this week, exporters’ dock prices for HMS 1&2 80:20 in Belgium stood mostly at around €405-410/t, while in the Netherlands prices were €410-420/t delivered (see Kallanish passim).
Turkish mills have decreased their domestic scrap buying prices sharply this week due to the steep fall in imported scrap prices and weak finished steel demand. The latest premium HMS 1&2 80:20 booking was concluded at $480-490/t cfr Turkey.
Sources forecast scrap prices in Western European markets to continue to decline in June, mostly due to lower demand for finished long and flat products.
Natalia Capra France