UK suppliers of steel scrap to domestic consumers have fallen for the latest monthly settlements for February delivery, paring most of the gains made since November on weaker demand and lower prices for European scrap into Turkey and the Indian subcontinent, sources said on Thursday February 13.
February contracts were down by ?25 ($32) per tonne, after climbing ?35 per tonne over the three months from November to January. Early deals between some UK suppliers and consumers were settled at ?20 per tonne down, while some later deals were reported mostly down ?30 per tonne. Other sales were settled up to ?35 per tonne lower on the month."It has created more supply in the UK and prices have reacted as...