European Scrap – Prices fall sharply, down 17% last week

European shredded scrap prices fell €44 last week to reach €213 ($264).

Prices have declined €74 or 26% in the past one month and €108, or 34% since the peak in mid April. US scrap prices also fell $53 or 17% last week and reached $265.

Prices have fallen $108, or 29% in the last month and 34% in the last three months. If the current price remains unchanged for the remainder of Q2, the q-o-q price increase for US scrap in Q2 would be $22, or 7%