Scrap prices in the Benelux have softened due to Turkey's absence during the Eid holiday and increased tension in the Middle East, which has added to the ongoing bearishness. On Monday, Benelux dock prices were mostly at around €300-305/tonne ($319-324) delivered, down from €305-310/t a week earlier. While €305/t was largely available in the Netherlands and €300/t in Belgium, lower levels at €295 were also heard. This decline in prices contradicts the increase in French and Benelux scrap prices by €15-30/tonne ($16-32) this month, supported by strong international price levels and good export of containerised scrap towards India and Northern Africa at high prices.
Despite Turkey's absence from the market, trading activity was quite lively in India, leading to prices remaining firm. No deep-sea scrap bookings were heard in Turkey last week, with Turkish mills trying to fulfil the remaining requirements for September-shipment cargoes from short-sea suppliers and the domestic market. Turkish mills are following a cautious stance in their scrap procurement before starting October-shipment bookings, due to unfavourable steel sales conditions.
Benelux scrap exporters remain cautious, eyeing Turkey's market. Scrap prices in the Benelux rose further throughout last week amid strong export markets, with dock prices reaching €350/tonne ($376). However, this increase in prices is not in line with declining consumption and low sales of the finished long and flat products in the European market.
