This month’s steelworks’ prices look to have rolled over again.
“There’s not a lot happening anywhere. With the double bank holiday and another to come at the end of the month when works usually close down, I can’t see the demand being that great,” one ferrous insider explained.
“The export market has been up and down but prices seem to have settled,” he added
“It’s unusual for prices to have rolled over two months in a row, and this is probably a result of a largely static export market,” another trader said.
According to merchants and traders contacted by MRW, the static nature of the domestic market could see prices roll over all the way into the summer break. Merchants are hoping the next few full working weeks will increase the amount of trade, but factors such as ongoing conflicts in the Middle East, high fuel prices and uncertain currencies are all affecting trade.