UK suppliers of steel scrap to domestic consumers have increased their prices for the latest monthly settlements to be delivered in March, marking a choppy period for the market so far this year, a trend that looks set to continue in April, market sources told Fastmarkets on Friday March 13.
March contracts were up by ?10 ($12) per tonne after dropping by ?25 per tonne in February, which partially reversed the increase of ?35 per tonne achieved over the three months to January."UK domestic markets have held off settling prices until the last few days citing internal issues and late completion of February contracts," one United Kingdom-based supplier source said. "However, our view is that they have held back to let the...