Several engineering steel scrap surcharges fall in July
Monday, 29 June 2009Most scrap surcharges for engineering steels in northern Europe have been lowered for July. Product demand continues to be weak.In Germany, engineering steel producers Saarstahl and Georgsmarienhütte will both apply scrap surcharges of €66/tonne in July, €20/t lower than in June. Sweden’s Ovako, which last month raised its surcharge by SEK 352/t (€33/t), is reducing its surcharge by SEK 170/t to SEK 917/t for July.Italy’s ABS is keeping its surcharge in July flat at €117/t for the third consecutive month. In the UK, Corus Engineering Steels (CES) will increase its July surcharge by £7/t to £122/t (€143/t).A UK-based trader describes demand for engineering steels in the UK and mainland Europe as unchanged: “it is still very poor,” he stresses. Corus last week announced 800 job losses at its engineering steels division, describing a recovery as “a long way off".
(info from www.steelbb.com )
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