Germany’s ferrous scrap exports have continued to decline, with a total of 5.4 million tonnes exported from January to September, marking a 10% decrease compared to the previous year. The value of these exports was approximately €2.9 billion. For the full year of 2023, exports totaled 7.61 million tonnes, down 3% from the previous year, reaching the lowest volume since the 2009 economic crisis.
The most significant drops in shipments were to Switzerland and Belgium, while deliveries to India saw an increase. On the other hand, scrap imports into Germany surged by 20.7% last year, totaling 3.48 million tonnes. The German Steel Recyclers Federation (BDSV) expressed a pessimistic outlook for the coming year, citing a lack of investment momentum and a slow industry transformation as reasons for scrap demand not exceeding supply.
German scrap prices have also decreased in November due to low domestic demand and limited exports. The average prices for old thick scrap, new scrap, and shredded scrap were €305/t, €308/t, and €310/t, respectively. Most market participants expect trade activity to remain weak in the coming months, with potential further declines in prices.
