EUROFER announces indefinite suspension of Scrap Price Indices

BRUSSELS (Scrap Monster): The European Steel Association (EUROFER) has announced indefinite suspension of Scrap Price Indices. The suspension is with immediate effect. According to EUROFER, the decision is in response to the situation where it has become impossible to obtain data from large number of countries covered by the indices. The Association has also ruled out the possibility of developing replacement index.

In a press release, EUROFER noted that it is forced to take the decision due to reasons beyond its control. It regretted that the Scrap Price Indices have to be indefinitely terminated and has apologized for any inconvenience caused by this outcome.

The EUROFER Scrap Price Index was referential price information on three categories of steel scrap- demolition, new arisings and shredded scrap. It was based on bid and ask prices collected from major participants in Germany, France, Italy, Spain and the UK. The EUROFER Scrap Price Index was provided only for informational purposes regarding market trends in the transaction price of steel scrap.

EUROFER is located in Brussels and was founded in 1976. It represents the entirety of steel production in the European Union. EUROFER members are steel companies and national steel federations throughout the EU. The major steel companies and national steel federations in Switzerland and Turkey are associate members.