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...

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