UK July scrap prices climb on strong export trade

The monthly UK ferrous scrap prices for deliveries to consumers in August have settled with increases mostly around £15 ($19) per tonne compared with July’s prices, trade sources told Metal Bulletin this week.

The prices of turnings and borings grades increased by £10 ($13) per tonne. The move followed an unusual but persistent trend in strong export trade to Turkey this quarter after a £10 ($13) per tonne increase in UK consumer scrap prices in July, the sources added. As scrap export demand to Turkey persists, UK suppliers have increased their sales prices to domestic consumers. There is little indication that Turkish import demand will ease through the month, so stronger UK consumer prices in September are a distinct possibility. “Next month is usually a time when steelmakers...

Published

Declan Conway

August 11, 2017

17:25 GMT

Galway