The market for deliveries of steel scrap to domestic consumers in the UK has increased for contracts in November, bouncing on firm fundamentals, with tighter supplies into yards and strong demand from local and overseas buyers, industry sources said in the week to Friday November 13.
The market to domestic steel mills and foundries, which is delivered on a monthly basis, has been settled at prices up by ?10 ($13) per tonne on all grades, except turnings and borings."The export price from the UK has increased by at least ?10 per tonne for November," one major exporter told Fastmarkets. "There are certainly fewer scrap arisings and less scrap being delivered into yards, with both major shredder scrap companies...