Price expectations diverge in Benelux scrap market

Benelux scrap market participants have varying views after Turkey’s withdrawal from the scrap market last Thursday.

After concluding some deals at higher prices last week, Turkish mills noted there is sufficient availability of scrap and halted their scrap purchases on Thursday. Last week, EU-origin HMS 1&2 80:20 increased by $4/tonne on-week.

Benelux dock prices, meanwhile, stood at €210-217/t ($249-258) delivered for HMS 80:20 on Monday. Some exporters are seen to have paid as high as €220/t on Friday to load their vessels, and decreased their prices to €210/t on Monday. Although there are exporters maintaining their prices at €217/t to be able to collect material for their already sold vessels, others seem to be cautious due to Turkey’s lower price expectations.

On the other hand, scrap suppliers in the Benelux expect local scrap prices to remain strong.

A scrap supplier tells Kallanish: “Scrap demand is still better than supply. Local guys here will not care much about Turkey’s expectations, I’m afraid. Exporters will chase even harder as vessels need to be loaded.”