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French scrap set for further decline
French scrap prices have fallen on average by €30/tonne ($34/t) compared to September for export and around €25/t in the local market, industry sources tell Kallanish.
France exports between 80% and 90% of its total scrap output to neighbouring countries Spain and Italy. In September and October very little French material has been bought by Italian and Spanish mills due declining demand for long products and falling scrap prices in the buying countries’ respective local markets. French merchants are currently suffering from tight margins.
“The industrial crisis in France is causing a decline in scrap production. The sector is heavily affected by tight margins also as local scrap has fallen €45/t on average since the beginning of the summer,” a source close to the scrap trade association Federec comments.
At present October-delivery French domestic quotations for new arisings (grade E8) are pegged at €170-180/t ($192-203/t) delivered. Shredded (E40) prices are now in the range €160-175/t. Demolition scrap (E3) and heavy demolition (E1) are stable at €160-170/t delivered. Prices may vary depending on quality, sources say.
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Anonymous
Very good overview of the weekly steel market.
Anonymous