UK FERROUS SCRAP: Monthly market recovers February losses

UK ferrous scrap prices for monthly deliveries to consumers in March have rebounded, recovering losses from last month, with the prices of almost all grades up by £30 per tonne amid firm demand, trade sources told Metal Bulletin this week.

Only borings bucked the trend, with the price increasing by only £25 per tonne. Trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and structural) are now priced £195-220 ($271-305) and £215-240 per tonne delivered, respectively. The markets overall are back up to a level last seen in September 2017, a peak month for that year. A steady run higher in the past few weeks in deep-sea exports to Turkey and in container prices to the Indian subcontinent has encouraged stronger demand for UK domestic scrap supplies, sources said. “The bigger suppliers...

Published

Declan Conway

March 13, 2018

18:35 GMT

Galway