Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of MRW, please enable cookies in your browser

We'll assume we have your consent to use cookies, so you won't need to log in each time you visit our site.
Learn more

Ferrous scrap prices move up

Ferrous scrap metal prices have edged upwards, a month after merchants reported falls.

MRW research indicates a rise in prices of up to £15 per tonne, depending on the region, whereas last month they fell by a similar amount, the first significant movement in the market for several weeks.

The increases come in a year so far characterised by subdued demand and availability of scrap, resulting in many quiet yards across the UK.

Those spoken to by MRW said that steelworks had settled on prices up by £5 and £10 on average. Typical light iron prices at the merchants contacted by MRW ranged from £75 to £125 at the beginning of the month, just after the rises.

The increase took some merchants by surprise and one operator in the Midlands said: “They came out of the blue. There were rumours about an increase this month, but they’ve been saying there would be a price increase for the past three months and it hasn’t happened.”

A north-east merchant said the price increases were inevitable, following a combination of previous falls and a lack of material.

“Prices are up because there is a desperate shortage of scrap,” he said. “The mills have been told [about this] for ages and they’ve finally woken up to the fact. The export market is better too. I think prices will go up again.”

Despite rises reported in England of £5-£15, Scottish merchants indicated they had yet to see any significant increases. The picture was similar in Wales with limited, small increases reported by some merchants.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.