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Ferrous prices drop £15 a tonne

Ferrous prices have dropped £15 a tonne this week, following the withdrawal of Turkey from the international market.

Traders have told MRW that Turkey is no longer buying much material, and has reduced prices between $20-30 a tonne, creating a “lacklustre” situation for merchants in the UK.

Further price reductions are expected when home steelworks prices settle for February deliveries.

WRAP MPR and MRW Pricing information is available every Thursday on www.mrw.co.uk/prices

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