UK FERROUS SCRAP MONTHLY: Prices for May steady despite weaker sterling

UK ferrous scrap prices for monthly deliveries to consumers in May were unchanged this month, with any possible planned price increases cancelled out by the weakness of sterling against the dollar, trade sources told Metal Bulletin on May 11.

Prices for trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and structural) were flat this week, remaining at £180-205 ($244-277) and £200-225 per tonne delivered, respectively. Consumers settled prices with no changes because domestic demand was at acceptable levels, and the falling sterling-dollar exchange rate had ruled out the possibility of a price increase. “Demand in the UK is steady and growing. Prices would have fallen slightly had it not been for the [drop in...

Published

Carrie Bone

May 11, 2018

17:59 GMT

London