French domestic scrap prices are falling by €50/tonne ($50.2) in July compared to June, following last month’s €80-100/t decline.
Demand for scrap has receded strongly. The downturn in finished long and flat products is causing French producers to implement longer maintenance stoppages in August. In some cases, maintenance works are starting this month. ArcelorMittal is also idling one blast furnace – HF2 – at its Dunkirk mill, in northern France (see Kallanish 21 June).
Domestic shredded E40 grade is being sold in July at €340-350/t delivered on average. The mixed E8 grade is sold at €350-360/t, while E1C has fallen below the level of €300/t, at €280-290/t delivered, sources suggest. Local sellers say export demand has been livelier than the European and French domestic markets. Some large mills are reported to have purchased about half of their usual scrap needs this month.
Turkish mills took a break from the scrap import market last week amid the Eid holiday. The latest bookings before the holiday were heard from the US at $408/t cfr Turkey and Baltic at $407/t cfr for HMS 1&2 80:20. A UK-origin cargo was meanwhile concluded for HMS 1&2 80:20 at $397/t and shredded at $422/t cfr.
Natalia Capra France