At the beginning of the month, consumers assumed that due to the expected fall in demand during the vaca-tion period scrap supply would be in surplus and accordingly offered price markdowns of between €10 and €20 per tonne. However, in the light of an increasingly tight export market, hesitancy on the part of suppliers and an obvious incorrect assumption as to the volume of available scrap, consumers adjusted their offered prices; depending on the level of demand and the scrap grade concerned, average price markdowns of only €5 per tonne were registered. More