German steelmakers have settled their monthly steel scrap contracts for September at lower prices, following the trend in international markets and due to the increased availability of some scrap grades in the local market, sources told Fastmarkets on Wednesday September 15.
The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of material both from automotive producers and from flat steel service centers.Stoppages and reduced production rates in the automotive sector, caused by a global shortage of semiconductors, have resulted in lower scrap output, market participants said. Car manufacturers...