UK FERROUS SCRAP: Market buoyed by European exports

UK suppliers of steel scrap to domestic consumers have added a further round of price increases for the latest monthly settlements to be delivered in January, sources told Fastmarkets on Thursday January 16.

January contracts were up by £10 ($13) per tonne, the latest step in a climb of £35 per tonne over three months, after increasing by a similar amount last month and by £15 per tonne in November, they said.
But the recent monthly price increases have only partly compensated for combined losses of £60 per tonne in September and October, when prices went down because of weakening domestic demand and a fall in European export prices to Turkey and the Indian subcontinent.
“There seems to have been general agreement on a £10 per tonne increase, although some medium-sized steelmakers paid £15 per tonne more for all grades except turnings and borings, for which they paid £10 and £5 per tonne more, respectively,” one industry source said.

“The major British steel scrap exporters have increased their sales prices by £15 per tonne for virtually all grades and by £10 per tonne...

Published

Declan Conway

January 16, 2020

20:12 GMT

Galway