Eurofer scrap indices close ‘indefinitely’

Belgium – The scrap price indices published by European steel association Eurofer are being closed indefinitely and with immediate effect.

This is in response to ‘a force majeure situation in which the data sourced from a range of countries covered by the indices has become impossible to obtain’, the Brussels-based organisation explains in a statement. No substitute index is expected to be developed, it adds.

The Eurofer index involved three categories of steel scrap (demolition, new arisings and shredded scrap), based on bid and ask prices collected from major participants in Germany, France, Italy, Spain and the UK.

Representing 100% of steel production in the EU, Eurofer’s members are steel companies and national steel federations throughout the EU while the major steel companies and national steel federations in Switzerland and Turkey are associate members.