French and domestic scrap prices are more or less stable compared to January, with some €5/tonne ($5.3) increase. However, before the Turkish earthquake, mills in Luxembourg and Belgium agreed to hikes of €20-25/t month-on-month, in line with the European market trend before the event.
Shredded and chiselled E40 and E1 remain in short supply, while E8 new arisings is abundant. Demand is patchy this month – rather strong in Luxembourg but more moderate in France where producers are witnessing a continued downturn in sales of finished long products, sources tell Kallanish.
So far, French domestic shredded E40 grade is pegged at €375-380/t delivered on average. The mixed E8 grade remains flat at €350/t on average. Demolition E1 and E3 are on average at €330/t and €350/t delivered respectively this month, sources suggest.
Meanwhile, scrap prices in the Benelux have fallen gradually since the earthquake hit Turkey. Business activity remains quite weak as Benelux exporters are avoiding buying scrap until there is more clarity over the Turkish market situation. Benelux exporters’ dock prices, which were on an upward trend and at around €350-360/t delivered a week previously, were mostly at €315-320/t in Belgium and €320-325/t delivered in the Netherlands on Monday (see Kallanish 14 February).
Natalia Capra France