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European scrap market recovers

Scrap prices, which also affect the steel market, gained momentum in the week of April 29.

European scrap market recovers

According to SteelRadar data, Dutch HMS 1/2 (80:20) scrap prices, which had been stable at USD 353 for some time, rose by USD 3 to USD 356 in the week of 29 April. However, from 2 May onwards, scrap prices fell by USD 2 and were last quoted at USD 354. Sources noted that while we expected a recovery in the scrap market, especially after the second quarter, the recovery started earlier with the increase in green steel activity.

According to SteelRadar, E40 scrap in Germany remained stable at EUR 368. Italian E3 scrap prices, which have been recovering, started the week of 29th April with an increase of EUR 7 to EUR 360. Sources emphasised that there had been a revival in the construction sector, while industrial production had also increased. In the Benelux region, the HMS 1/2 (80:20) scrap market rebounded after last week's decline and prices continued to trade at EUR 313, up EUR 5.

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