UK FERROUS SCRAP: April monthly market prices drop in line with exports

UK ferrous scrap prices for monthly deliveries to consumers in April have dropped, reducing the gains achieved from a recovery in prices last month, with the price of low residual grades down by £10 per tonne and cut grades down by £15 per tonne, trade sources told Metal Bulletin this week.

The market has reacted to a fall in the containerized and deep-sea scrap export markets to Turkey and the Indian subcontinent. Trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and structural) were priced £180-205 ($256-291) and £200-225 per tonne delivered, respectively, on Thursday April 12. Consumers have settled at prices mostly down by £10 per tonne for low residual scrap grades, which is sought among steelmakers to make specialized products. The price of cut-grade scrap, much of which is used to make constructional steel such as rebar, is down by about £15 per tonne. Turkish scrap importers are in competition with steel rebar producers in Europe for European cut-grade scrap. One UK steelmaker settled its orders for cut-grade scrap for deliveries in April with most suppliers, but had to settle with “major suppliers,” it said. “We want a £20 per tonne reduction,...

Published

Declan Conway

April 13, 2018

15:20 GMT

Galway