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Kallanish Kallanish

Knowledge matters Knowledge matters

September, 29th 2020

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JUN 15

Benelux scrap prices mostly remain unchanged


Strong Turkish demand continues to drive the scrap market in the EU. Although local European mills continue to exert downward pressure on prices as a result of the bearish EU steel market, Turkey is preventing prices from dropping.

Current dock prices in the Benelux region remain unchanged since last week at €195-200/tonne ($218-224/t) delivered, Kallanish notes.

A Benelux scrap supplier tells Kallanish: “Prices have stabilised. We haven’t seen further increases last week. But I still have a positive sentiment over the next weeks, I expect prices to remain strong.”

Another scrap supplier, on the contrary, says: “Turkish demand is the driving factor in price increases. If Turkey backs off, there is no support from anywhere else.”

Turkish mills booked numerous EU-origin scrap cargoes last week. The HMS 1&2 80:20 price, which stood at $255-256/t cfr the previous week, increased to $263/t cfr last week.

Although there is a rumour of a UK-origin HMS 80:20 sale at $264/t cfr Turkey, it is yet to be confirmed. European suppliers’ current offers to the Turkish market stand at above $265/t cfr.

No significant improvement was observed in other EU-scrap importing countries. Only a small vessel of shredded scrap was heard sold in India at $292/t cfr.

Kallanish has increased its weekly Rotterdam HMS 80:20 export price assessment from $243-246.5/t last week to $247-251/t fob Rotterdam on 15 June. The weekly Benelux dock price assessment remains unchanged at €195-200/t delivered.