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Thamesteel woes will not create ferrous scrap surplus on UK market, merchants say

February 03, 2012 - 09:30 GMT Location: London

KEYWORDS: Europe , UK , Thamesteel , ferrous scrap , scrap prices

There will be no surplus of ferrous scrap on the market as a result of UK longs producer Thamesteel going into administration last month, merchants told Metal Bulletin this week.

The steelmaker went into administration on January 25 after talks with a potential investor broke down. Thamesteel had not been melting scrap at its operations since November, or even earlier, though it had purchased scrap from several suppliers. Despite the melt shop at Thamessteel not being in operation, a glut of ferrous scrap is not likely to become available on the UK market, merchants...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Ferrous Scrap

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