British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in May at levels last seen nine years ago, amid relatively tight supplies and strong demand in both the local and export markets, sources said this week.
Suppliers have managed to generally agree an increase of ?15 ($21) per tonne for steel scrap grades delivered into steelmakers in the UK."Scrap availability remains the biggest issue and there are lots of buyers and not enough scrap around to satisfy them," a UK-based industry source said. "Also, [the religious observance of Ramadan] is now over, meaning more Turkish trading activity for European...