UK STEEL SCRAP MONTHLY: Consumer market bounces back on firmer fundamentals

The UK market for deliveries of steel scrap to domestic consumers has increased in August, more than paring losses made in July as tighter supplies and firmer demand at home and abroad combined to push up prices, industry sources told Fastmarkets.

The United Kingdom's domestic market for steel scrap gained strength in August, with tighter supply and firmer demand at home and abroad combining to push up prices, industry sources told Fastmarkets.
UK steel producers have been resigned to higher monthly prices in August as a result of the lockdown imposed to contain the spread of Covid-19 in recent months, which resulted in a slump in scrap generation arising from fewer demolition projects in the construction sector. White goods and car scrappage is also down.
Moreover, there has been steady demand among traditional importers of scrap from Europe, such as Turkey and the Indian subcontinent, as well as European importers from the UK, such as Spain, British scrap sources said.

"We went up ?15 ($19.60) per tonne for our August scrap purchases and we were pushed as high as ?20 per tonne by suppliers, but we resisted that increase," a...

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