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MARKETS: Ferrous weekly round up 11 January

Both of the big South Wales mills are seeking a price roll-over from December into January, but they do need tonnage and direct suppliers desperately short of stock are attempting to negotiate small increases.

One supplier commented, ‘There seems to be nothing out there and I don’t know if we could find more if we paid more, but it’s worth a try. I suppose we’re lucky, UK mills are faring better than those in mainland Europe and we can easily sell whatever we get.”

So far, dockside prices for January are steady at December levels. India is back in the market for all the usual grades, but so far they are only offering silly money and UK exporters are holding out for better deals. One said, ‘Our stocks are low and we’ve got next to nothing coming into our yards, so we may as well wait until someone makes a better offer.’

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