Scrap down in Germany on export price collapse

摘要

In spite of low scrap availability, domestic prices went down in Germany in February on the back of a significant decrease of export quotations. The German steelmakers cut their purchase prices by EUR 15-20/t compared to January, referring to sluggish demand in longs segment. Despite high demand for scrap in Europe and low availability of the material in February, bearish sentiments in exports prevented the prices from going up.