European scrap prices to increase

Updated on: 10/01/2023

The trend in January for European scrap prices is for “strong increases”, sources in southern, northern and Eastern Europe tell Kallanish.

Due to short supply of the most demanded grades, such as shredded E40 and E1, and increasing Turkish values, German and Austrian sellers believe values may increase by €30-40/tonne ($31-42). This will include freight rate hikes by German and Austrian rail operators, which should be in the range of €10-15/t versus 2022.

Eastern European sellers are convinced prices will increase €30-50/t. Last month, they went to the extent of retaining material to sell at a higher price in January. One source in Poland says the market is under extreme pressure, similar to that seen in January and February last year.

Exporters from Poland, Czech Republic, Slovenia and Slovakia see prices continuing to increase in Asia and Turkey, caused by shortages and improved demand for rebar.

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French sellers also believe this month’s values will go up. However, negotiations have yet to start and French mills are not willing to pay €30-40/t increases considering the high costs of energy and lower demand for finished product.

Italian mills are aware of the international uptrend but they are still shut for the holiday and will resume producing on 9 January. Their intention is to grant some moderate price increases but they are looking to buy large tonnages of imported material from Germany, France and Eastern Europe, while also enquiring about domestic scrap availability and prices.

Despite sellers’ and buyers’ many calls and enquiries, this week remains quiet in most European countries due to the end of the holiday season.


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