UK STEEL SCRAP MONTHLY: August prices drop on weaker exports, seasonal slowdown

Prices in the British market for steel scrap deliveries to domestic steelmakers have dropped for August 2021, snapping a run of gains in the past three months on lower demand and weaker export prices amid the seasonal summer slowdown, sources said on Thursday August 12.

Prices for scrap supplied to British steelmakers were down in general by around ?5 ($7) per tonne in August, although some reported a rollover from the previous month or reductions of as much as ?10 per tonne from July deliveries.
One supplier reported a drop of slightly more than ?10 per tonne into a couple of major steel producers.
The downward move in August prices reverses the gains made in July. Suppliers reported that some steelmakers expected a bigger price drop in September, although suppliers expected the opposite, based on the prospect of tighter supplies from new scrap arisings, and steady exports to Turkey, to the Indian subcontinent and in particular to the United States.

"There is buying interest for European scrap from Turkey and China but they are unwilling to match the premium of around ?,?20 [$23] per tonne into the US, where European trading has been active in...

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