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Nordic Countries

The Scandinavian markets are still in the grip of COVID. Many industries are suffering manpower shortages because employees are quarantining. However, there seems to be a light at the end of the tunnel; in Denmark, for example, all COVID-related restrictions will probably be removed by the beginning of February. At the same time, high energy costs and strong demand are offering support to scrap prices.

The northern European copper sales markets are in good shape, with healthy demand and slightly declining deductions from the LME. Activity in the production sector is very high and the unemployment rate in Denmark is towards the lowest ever recorded. Owing to supply chain problems, Danish industries are taking back their production from low-cost countries and this should lead to rising scrap levels domestically.

The current high price of stainless steel is bringing out large volumes of material and the first signs of increased deductions are now being seen. Demand for Zorba, motors and aluminium cables is also good.

The green transition is driving demand for aluminium scrap to a level not seen for many years. A lack of supply of certain alloys is evident, forcing an increase in premiums for some materials.