German steelmakers settle May scrap contracts lower, put further deals on hold
German steelmakers have settled most of their monthly contracts for steel scrap at reduced prices in May, but were expecting to achieve even lower prices in view of the global downtrend, market sources told Fastmarkets on Friday May 13.
“At the beginning of May, it seemed that [German] mills needed a lot of scrap, but the situation is not clear now [due to falling prices globally],” one source said.
