The market for deliveries of steel scrap to domestic consumers in the UK has increased for monthly settlements in May, paring losses seen the previous month on tighter availability due to a fall in arisings, market sources told Fastmarkets on Friday May 15.
The move follows weaker market conditions in steel scrap generation due to the Covid-19 pandemic, which has led to a slump in the automotive and construction sectors where much of the steel scrap is sourced."Big steel foundries want scrap, but we have only a little," one supplier said. "Export prices are up this month after a strong climb in April, so the export...