UK domestic ferrous scrap market looking at further price declines, merchants say
Nov 03, 2011 | 12:27 PM
|
Ferrous scrap prices for deliveries to mills in the UK are set to fall for a second successive month in November, as mills use the dull export market to drive down buying prices, merchants told MB this week.
All grades of ferrous scrap are likely to decrease in November, with one UK mill already reported as bidding £230-240 ($367-383) per tonne delivered for HMS 1&2 old steel and £240-250 per tonne delivered for OA, down by £20-30 per tonne down from October delivery prices.
Mills are likely to find resistance from the bigger merchants in the UK, however, merchants said.
“[Mills] will find it extremely difficult to push through these price....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here