Scandinavia

Falling consumption and especially the decline in activity in the important German automotive sector have impacted demand for recycled steel. This is reflected in prices and, since the autumn, the key Turkish market has been slightly ahead in terms of shredder and HMS.

In January, prices in Turkey reached their lowest level since May 2022 at around US$ 330 per tonne for HMS 80/20. Since the middle of last month, however, prices for recycled steel have been on an upward trend and are currently trading at around US$ 350 per tonne.

The Indian market for recycled steel in containers seems to be on the way back but levels are still somewhat below those of the price-setting Turkish market. This has meant that Indian imports from Europe were very modest in 2024. It is reported that India is largely supplied with semi-finished material from Asia and the Middle East.

Freight rates for containers are declining, driven by the fact that more shipping companies can once again use the important Suez Canal on their way from Europe to Asia.