British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in April unchanged compared with market levels the month before, amid persistent supply tightness, trade sources said this week.
The move follows initial signs around the turn of the month of a potential fall of ?20 ($27) per tonne due to a combination of reasons: downward pressure on European scrap export prices into Turkey, financial trouble at British steelmaker Liberty, industry talk of a fall in Indian scrap imports from the West, and the effect of the observance of the Islamic holy month of Ramadan."Turkish steelmakers were trying to get scrap prices down, while there were...