German steel scrap prices rise in November on tight supply, strong demand

German steelmakers have settled their monthly steel scrap contracts for November at higher prices, sources told Fastmarkets on Tuesday November 16.

The main drivers behind the price increase were strong demand among the steelmakers and the short supply of scrap, particularly of new grades.
"Prices increased on average by about ?,?30 [$34] per tonne. As usual, the price rise was slightly different depending on the mill and the scrap grade," a German source said.

"The drivers [for this] were mill demand and the current lack of...

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