In the British market, scrap deliveries prices to domestic steelmakers fell in August 2021, making a lower profit in the last three months due to lower demand and weak export prices due to the seasonal summer slowdown, sources said on Thursday, 12 August.
Scrap prices supplied to British steelmakers dropped by around £5 ($7) per tonne in August, although some reported a rollover from the previous month or as much as £10 per tonne from July deliveries.
A supplier has reported a drop of just over £10 per tonne to several major steelmakers.
The downward move in August prices reverses the gains made in July.' Suppliers said that some steelmakers expect a larger price drop in September, but suppliers' new scrap-driven supply is tightened and supplies to Turkey, the Indian subcontinent, and especially the United States. However, based on the expectation of stable exports, he stated that he expects the opposite.
“There is a buying interest for European scrap from Turkey and China, but they do not want to keep a premium of around €20 [$23] per ton to the USA, where European trade is active.
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