Swedish scrap prices are rising by some SEK 200/tonne ($21.8/t) in February. This supports the wider view of an overall increasing trend in Europe and in Turkey, Kallanish learns from the local scrap association Järnbruksförnödenheter AB (JBF).

In January the market remained stable compared to the end of 2018, but the latest rise in iron ore prices in China and scrap in Turkey is supporting the recovery of raw material prices across Europe. The association assesses the price change on a monthly basis for Swedish grade No11 scrap, equivalent to HMS1 or E3 in European steel scrap specifications.

The Swedish scrap market is usually among the first ones in Europe to settle monthly contracts, giving a clear indicator for future movements across Europe. Sweden is a large exporter of scrap to Europe as well as to Turkey.