A high availability of scrap put pressure on European floated frag and cast prices on Friday March 2, with Metal Bulletin's assessments dropping for the first time since September 15, 2017.
Metal Bulletin's prices for floated frag for delivery in Europe, fell to ?,?1,280 -1,310 ($1,577-1,614) per tonne in Friday's assessment from ?,?1,300-1,330 per tonne seven days earlier, while European cast prices inched lower to ?,?1,180-1,250 per tonne from ?,?1,200 -1,270 previously. "For scrap, [prices] have fallen lower because it is quite easy to buy scrap at the moment - it is readily available and we can pick it up for lower prices," a European trader said. "The market is good and there is...