The UK market for deliveries of steel scrap to domestic consumers has risen in September, adding ?10 ($13) per tonne to the earlier ?15 per tonne rise in August, with major shredders competing for scarcer material with smaller scrap suppliers, industry sources said this week.
Moreover, a steady rate of export business to deep-sea destinations such as Turkey and the Indian sub-continent has also hardened support for higher domestic scrap prices in Europe, they said."There is more scrap being generated from the car plants, compared with almost nothing a few months ago, but that rate is still way down on this time last year," he added. "Almost all processing scrapyards do not have enough tonnage coming in to...