Prices Drop Continually

The anticipated slump in July trading (see June bvse report) turned out to be more severe than expected. On
average scrap prices sank by €20 per tonne. Traders who were quick off the mark and closed contracts at the
beginning of the month achieved the better end of the markdowns; the first mills who appeared on the market
were offering price markdowns of between €10 and €15 per tonne, compared to last month’s pricing.