Despite the global steel turmoil caused by Covid-19, Swedish scrap prices remain unchanged for May, Kallanish learns from the local scrap association Järnbruksförnödenheter AB (JBF).

Each month, JBF publishes the applicable price changes for Swedish scrap grade No. 11, which is offered to the supplier contracted for supplies during the following month. The association had signalled a very significant reduction of SEK 650/tonne ($64.7/t) for April at the beginning of that month. This was then recovered somewhat with a mid-month rise of SEK 500/t. Prices now remain unchanged for May contracts.

Swedish grade No. 11 scrap is equivalent to scrap grade HMS1 or E3 in European steel scrap specifications.

The Swedish scrap market is usually among the first ones in Europe to settle monthly contracts, giving an early indicator for future movements across Europe. Sweden is a large exporter of scrap to Europe as well as to Turkey.