By  Paul Ploumis 04 Aug 2015  Last updated at  03:12:05 GMT

BERLIN (Scrap Monster): As per the latest statistics provided by the German Steel Recycling Federation (BDSV), the country’s scrap prices continued to drop further dropped during the month of July this year. During this month, the average prices have declined by around €20 per ton.

The prices of old scrap decreased by €20 per ton to touch €184 per ton.

Shredded scrap prices went lower by €24 per ton to reach €208 per ton during July 2015.

Also, prices of new arisings reached €202 per ton, falling by €19 per ton from the previous month.

The demand for scrap remained weak from the country’s domestic construction sector during the month of July so far, mainly on account of summer holidays. The weakening demand scenario may result in further decline in scrap prices in the upcoming months, trade participants noted.

The German scrap prices had decreased marginally during June this year. The prices of old scrap, shredded scrap and new arisings were €204 per ton, €231 per ton and €221 per ton during June ’15.