UK FERROUS SCRAP: Prices settle down but optimism grows for recovery

UK suppliers of steel scrap to domestic consumers have reported a decrease in their prices in the latest monthly settlements in April, following poor market conditions as a result of the Covid-19 pandemic, market sources told Fastmarkets on Friday April 17.

Fastmarkets assesses the prices of trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA plate and structural (P&S) scrap.
The price of steel scrap, 1&2 old steel, domestic, delivered consumer UK, was down by £30 per tonne on April 17 to £65-80 ($81-100) per tonne, from £95-110 per tonne in March.
Fastmarkets’ price assessment for steel scrap, OA plate and structural, domestic, delivered consumer UK, was also down by £30 per tonne month on month to £85-100 per tonne, from £115-130 per tonne in March.
Despite a continuing shortage of scrap in UK yards, which may have lent support to prices, there was also a shortage of trade, with some firms closing their doors and furloughing staff.

Many of the automotive manufacturers have closed, as have various construction sites, due to the pandemic in the UK, which has been in...

Published

Carrie Bone

April 17, 2020

17:52 GMT

London