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UK ferrous scrap prices drop £10 per tonne in February after mills reassess market

February 10, 2012 - 15:53 GMT Location: London

KEYWORDS: UK ferrous scrap prices , steel scrap prices

Prices for UK ferrous scrap to be delivered in February fell less than expected this month after mills’ attempts to get bigger discounts were countered by merchant resistance and tight supply of certain scrap grades.

Ferrous scrap prices fell by £10 ($15.8) per tonne on the whole this month depending on tonnage, merchants said on Friday, February 10, with some early settlements £12-15 per tonne down on January prices. This means Metal Bulletin’s assessment grades such as OA fell to £255-265 per tonne delivered, from £265-275 in January; 1&2 old steel was at £240-250 delivered, down from £250-260 previously; and 12 A/C/D was down to £245-260 delivered, from £255-270 in January. Bales and cuttings prices also fell by £10 per tonne on average, despite merchants acknowledging that export markets...

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Ferrous

May 24, 2012 14:50 DAILY SCRAP REPORT: Small Black Sea buyers sell off cargoes
May 24, 2012 00:29 Harsco renews three multiyear contracts in US
May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
May 23, 2012 10:24 China halts scrap imports on weak domestic market
May 23, 2012 08:53 SE Asia scrap prices down $15-20 as buyers await market cues

Ferrous Scrap

May 24, 2012 14:50 DAILY SCRAP REPORT: Small Black Sea buyers sell off cargoes
May 24, 2012 00:29 Harsco renews three multiyear contracts in US
May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
May 23, 2012 10:24 China halts scrap imports on weak domestic market
May 23, 2012 00:35 US recyclers facing bankruptcy filings

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