Germany’s ferrous scrap exports decreased in January-October 2024, according to new data from the German federal statistics office, Destatis.

Exports totalled 6 million tonnes, down 9% on-year, and were worth €3.2 billion ($3.5 billion), Kallanish notes. This is the lowest ten-month figure since data collection began in 2006.

Ten-month German scrap imports were 3.8mt, up 28% on-year, worth €1.6 billion.

In full-year 2023, scrap exports totalled 7.61mt, down 3% on-year. This was the lowest export volume since the economic and financial crisis of 2009. Scrap imports dropped 20.7% to 3.48mt.

Scrap exports to India decreased by the most in January-October, while deliveries to Italy, the Netherlands and Turkey also fell significantly.

German steel recyclers federation BDSV said last September it is pessimistic about the coming year (see Kallanish passim). Due to the lack of investment momentum in the German economy and stuttering steel industry electrification, scrap demand will not exceed supply, it noted.

German scrap prices decreased in December due to low domestic demand and limited exports (see Kallanish passim). Most sources expect trade activity to be weak in January, with possible additional declines.

Nationwide average German prices for old thick scrap sort 3 are at €300/tonne, while new scrap sort 2/8 was at €305/t and E40 shredded scrap at €310/t.