UK: Steel prices rocket in August

摘要

Availability for steel will continue to be problematic, given the high price recorded for packaging recovery notes and packaging recovery notes for export (PRN/PERNs) last month. That is the message of the Environment Exchange (t2e), the UK exchange floor that covers two thirds of the PRN/PERN market. Steel values are continuing to rise, with the last traded price at 4 September £120/tonne.rnIn its August report, t2e said that steel values surged to £105/tonne given a surge in demand - the last time since July 2005 (see Table 1, p.8). Excellent volume was traded increasing the price £21 during the course of the month. The monthly average was just under £100 at £96.77/tonne. Supply remains tight as the export markets continue to stutter with no sign of the domestic market picking up.