Ferrous scrap prices remain robust
Ferrous scrap prices remain robust

8 May 2024 – Ferrous scrap prices in the EU remain very robust. Stainless steel scrap continues its upward trend. And anti-circumvention results for cold rolled stainless steel bring significantly more transparency to the supply chain.

Scrap prices remain robust

Scrap prices have proven to be extremely robust and stable in recent months. Recently, price increases for ferrous waste from southern Europe have also been reported.

European stainless steel scrap prices maintaining upward trend

European stainless steel scrap prices are also maintaining their upward trend and have risen by well over 10% since the beginning of the year. Similar price movements can also be observed on the Asian markets.

EU anti-circumvention results bring more transparency

It should already be clear that the final results of the European Commission’s anti-circumvention investigations into cold-rolled stainless steel will bring significantly more transparency in the documentation of the supply chain in future.

Even if the Commission’s reasoning and final justification in these proceedings was purely politically motivated and extremely thin and can boast a huge number of administrative errors and omissions.

More transparent documentation becomes mandatory

And it should also be clear that this more transparent documentation will ultimately determine the final price for imports to Europe.

We are therefore already observing with great scepticism the actions of some trading companies, which are rumoured to be adjusting their purchase prices so that the import duties are lower than they should be.

Customs reclaim lost duties if necessary

Our note on this: In the worst-case scenario, this can also fall on the respective customer’s shoulders if the customs authorities claim back lost duties, regardless of whether you were the importer or not – as has already happened in the past.

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