BERLIN: Germany have exported significantly less steel scrap in the year thus far.
According to recently released figures from the German Federal Statistical Office, total export shipments of ferrous scrap over the first half of 2016 reached 3.98 million tonnes, nearly 11 per cent lower than the amount for the same period a year ago. Due to retreating prices, German exporters took in only €1.13bn in revenue, approximately a third less than in the first half of 2015.
The most significant reduction in volumes was apparent in the drop in exports to France, the Netherlands and Spain. Shipments of ferrous scrap from Germany to each of these countries fell by over 130,000 tonnes year-on-year. With a decrease of almost 20 per cent, orders from Turkish steel mills were clearly down as well. Belgium and Luxembourg bucked the trend, however, importing more German steel scrap in the first half of 2016.
