French and Benelux scrap prices are seen stable this month, with some downward fluctuation for certain grades depending on needs. This follows a slight decline in October, in line with the uncertainty in long and flat products markets.
Shortages amid lower scrap collection persist, with sellers preferring to export material to other destinations outside Europe, Kallanish notes.
Indian and North African buyers are making purchases. Turkish mills are buying scrap in Europe at higher prices, fearing procurement difficulties due to lower collection rates and intensifying containerised and seaborne scrap exports.
While European mills would tend to keep values stable this month, sellers are beginning to ask for a €10/tonne ($10.6) increase due to international hikes and reported shortages. The European market continues to be stagnant in terms of finished flat and long steel sales, with end-user activity quiet. Steelmakers will continue to implement production cuts this month.
In October, E40 and E8 were sold at €340-345/t delivered on average. Demolition E3 was at €320-330/t, while the lower E1C quality sold at €300/t delivered on average, sources suggest.
Natalia Capra France