British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers at ?30 ($41) per tonne lower for February, not as low as expected because export prices to traditional deep-sea markets have staged a late recovery this month, industry sources told Fastmarkets.
The move marks the first downturn in prices since October when the markets dropped ?5 per tonne, although the longer-term overall trend has been strengthening since April."Steelworks wanted their ?50 per tonne back, but won't get it," one industry source said. "Turkish steel mills stopped buying scrap for a while but are now in the market moving prices back up. Some suppliers sold to [UK steelmaker] Celsa at ?25 per tonne off this month and...