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Kallanish Kallanish

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October, 20th 2021

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SEP 15

German scrap prices fall significantly on full stocks


German scrap prices declined in the first half of September due to full stocks in Europe and continued lower purchasing levels from Turkey, according to German scrap market participants.

Prices in southern Germany, as well as in the north and west, have decreased by €20-60/tonne ($23-71/t) this month, a Bavarian buyer tells Kallanish.

The nationwide average price has decreased this month by €40/t, with, for example, old thick scrap sort 3 down from €440/t ($520) to €380/t in September’s negotiations. The price for new scrap sort 2/8 meanwhile has reached €430-440/t in Germany.

The price for E40 shredded scrap reached €420/t in September.

In Austria, scrap prices also decreased by €15-30/t this month, depending on sort. Old thick scrap sort 3 has thus decreased to €425/t and new scrap sort 2/8 is at €480/t.

“The main reason [for the drop] is that most mills in Europe have their stocks full after the summer,” says another German market participant. "Turkish purchases of German scrap continued to decline in September, like it was in August.”

Demand for new scrap is still high, but the limited supply is additionally burdened by persistent semiconductor shortages, which have led to production halts in the automotive industry, he adds.

Most participants in the German scrap market expect prices to continue to decline this month for most sorts and particularly for old scrap. This also depends on the Turkish scrap market, which continues to be quiet in September.

Svetoslav Abrossimov Bulgaria